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Samsung Biologics. (Photo = Samsung Biologics) |
[Alpha Biz= Reporter Kim Jisun] Samsung Biologics continues to achieve remarkable success in securing contract manufacturing organization (CMO) deals, with a new agreement valued at ₩930.4 billion (~$700 million) signed with a European pharmaceutical company. This brings the company’s cumulative CMO orders for 2024 to over ₩5.29 trillion, setting a new annual record.
The latest contract, whose details, including the partner and product, remain confidential, will run through December 31, 2031. This is the 11th CMO deal Samsung Biologics has signed this year, marking a 1.5x increase in total order value compared to 2023 in just 11 months.
Recent deals have been significantly larger, reflecting a trend toward high-value agreements. In July, Samsung Biologics set a record with a ₩1.46 trillion contract with a U.S. pharmaceutical firm, only to surpass it in October with a ₩1.7 trillion deal with an Asian company.
Samsung Biologics has solidified its position as a leading global player, serving 17 of the top 20 global pharmaceutical companies. Its impressive track record, unparalleled production capacity, and commitment to quality have contributed to cumulative orders worth $16.1 billion (~₩22.4 trillion) since its inception.
The company is leveraging its robust pipeline to prepare for growing global demand for biopharmaceuticals. To support these increasing orders, Samsung Biologics is continuously expanding its world-leading manufacturing capacity.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
