On the 2nd, SAMSUNG BIOLOGICS announced the preliminary final results of its tender offer for shares in Polypeptide Group. The figure represents the combined results of the tender offer, which closed on the 12th of last month, and the additional subscription period that ran from the 19th to the 30th of the same month.
This tender offer was conducted through Samsung Peptide, a subsidiary and special-purpose company (SPC) established for the acquisition. The company sought to purchase all 33,016,411 issued shares—excluding treasury stock—at 44.31 Swiss francs per share.
A total of 32,350,302 shares were tendered, representing 97.98% of the shares subject to the tender offer and 97.66% of the total issued shares. This exceeded both the minimum acceptance threshold of 66.7% and the 90% threshold required to trigger a mandatory buyout of minority shareholders’ remaining stakes. The final, verified results, following review by an independent auditor, are scheduled to be announced on the 5th.
SAMSUNG BIOLOGICS plans to proceed with the mandatory purchase of the remaining shares to make Polypeptide Group a wholly-owned subsidiary. The company is currently seeking regulatory approval from authorities in Europe, India, Australia, and Brazil, and plans to pay the purchase price within 10 trading days of receiving approval. The transaction is expected to close by the end of this year or in the first quarter of next year, depending on the regulatory approval schedule.
SAMSUNG BIOLOGICS previously signed an acquisition agreement with Polypeptide Group in July. The acquisition price of 1.46 billion Swiss francs (approximately 2.7 trillion won) is the largest in the history of mergers and acquisitions (M&A) in South Korea’s pharmaceutical and biotech industries. Based on the exchange rate at the end of last month, the deal is valued at approximately 2.37 trillion won.
This acquisition is a move by SAMSUNG BIOLOGICS to expand the scope of its CDMO business into peptides. The company plans to diversify its business portfolio by adding peptides to its existing offerings of antibody drugs, messenger RNA (mRNA), and antibody-drug conjugates (ADCs).
Peptides are used as key raw materials in treatments for diabetes and obesity. As the market for these therapies grows, the company expects demand for CDMOs—which specialize in development and production—to increase as well.
SAMSUNG BIOLOGICS plans to combine its experience in designing and operating large-scale production facilities with the Polypeptide Group’s development and production technologies. The company also plans to explore options for expanding its peptide production facilities in line with market growth and customer demand.
