Samsung Biologics secures $1.24B contract manufacturing deal
Oct. 22, 2024
Samsung Biologics announced a manufacturing deal worth $1.24 billion with an Asia-based pharmaceutical company.
The agreement will be executed at the company’s biomanufacturing site in Songdo, South Korea, and will run through December 2037. With this contract, Samsung Biologics’ total contracts for 2024 have surpassed $3.3 billion.
Samsung Biologics is on track to complete the construction of a dedicated antibody-drug conjugate (ADC) facility by the end of this year. A fifth plant is set to become operational in April 2025, adding 180 kL of capacity, bringing the total to 784 kL across all plants.
