Samsung Biologics Lands Record $1.24 Billion Deal With Asia-Based Drugmaker

Samsung Biologics announced it has secured its biggest-ever contract manufacturing deal with a single client, an agreement worth $1.24 billion with an Asia-based pharmaceutical company. The South Korean biologics contract development and manufacturing organization (CDMO) said the win marks a new milestone in its rapid expansion and reinforces its standing among the world's top biopharmaceutical manufacturers.

Under the terms of the agreement, production will take place at Samsung Biologics' manufacturing complex in Songdo, Incheon, with the contract running through December 2037. The company said the deal brings its total confirmed contracts for 2024 to more than $3.3 billion, extending a string of major wins throughout the year.

CEO John Rim said the partnership reflects the company's ambition to deliver high-quality biopharmaceuticals to patients worldwide, describing the timing as important as Samsung Biologics continues to expand its production capacity to meet client demand. He added that the company intends to keep building trusted, long-term partnerships with both new and existing clients.

Samsung Biologics has now worked with 17 of the world's top 20 pharmaceutical companies, a client roster it has been steadily growing as it pushes into new regions, including Japan. The company already operates sales offices in the United States and is preparing to open a new regional office in Tokyo to deepen relationships with clients in the region.

The deal comes as Samsung Biologics accelerates a broader capacity buildout. The company expects to finish construction of a dedicated antibody-drug conjugate (ADC) facility by the end of the year, while a fifth manufacturing plant is scheduled to begin operations in April 2025. That plant alone will add 180 kiloliters of capacity, lifting the company's combined output across its first five plants to 784 kiloliters.

Alongside its capacity expansion, Samsung Biologics has been rolling out new development platforms and manufacturing technologies aimed at more complex biologic modalities, including multispecific antibodies, as it positions itself to handle increasingly sophisticated projects for global drugmakers.