SAMSUNG BIOLOGICS announced on the 3rd that it had signed a new CMO contract worth $324.8 million (approximately 434.3 billion won) with a global pharmaceutical company. The contract runs through December 31, 2031. The identity of the client and the product name were not disclosed due to confidentiality clauses.
Including this contract, SAMSUNG BIOLOGICS has announced a total of nine contracts this year. Its cumulative order backlog since its founding has reached $22.3 billion. The company expects this large-scale, long-term contract to help secure its order backlog and strengthen its future revenue base.
SAMSUNG BIOLOGICS counts most of the world’s top 20 pharmaceutical companies among its clients and is expanding the scope of its collaboration from drug development to commercial production. In line with growing demand for biopharmaceuticals and pharmaceutical companies’ efforts to diversify their supply chains, the company plans to secure new clients and expand contracts with existing ones.
To support this, the company is pursuing a “three-pillar expansion” strategy focused on expanding production capacity, its business portfolio, and its geographic footprint. This involves expanding production facilities while broadening its business scope to include antibodies, antibody-drug conjugates (ADCs), and peptides.
The company is also strengthening its overseas sales network. With the opening of a European sales office in the Netherlands this past August, it has established sales bases in key markets such as the United States, Japan, and Europe.
A SAMSUNG BIOLOGICS spokesperson stated, “Moving forward, we plan to enhance the trust of our global customers and continuously expand our order intake based on our overwhelming production capacity, diversified business portfolio, geographic footprint, and competitive quality.”
