Samsung Biologics’ Plant 4 in Songdo, Incheon / Courtesy of Samsung Biologics
By Ko Dong-hwan
Samsung Biologics landed a $1.24 billion contract manufacturing cope with an Asian pharmaceutical big, shattering its report for the most important single contract in simply three months, the biotech agency stated Tuesday.
Samsung Biologics revealed the newest contract in its regulatory submitting with out naming the counterpart. Valued at over 1.7 trillion gained ($1.24 billion), the deal accounts for practically half the entire contracts the corporate gained final 12 months, valued at 3.5 trillion gained. The newest contract lasts till the top of 2037.
The deal got here solely three months after Samsung Biologics signed a 1.46 trillion gained cope with a U.S. firm in July, which was the most important single contract that the corporate has inked.
Following Tuesday’s deal, Samsung Biologics surpassed the 4 trillion gained mark in orders it gained in a 12 months for the primary time. The corporate has signed 9 contracts with international pharmaceutical firms since March, accumulating 4.36 trillion gained in total contract worth. The determine is 120 p.c of the corporate’s cumulative orders from final 12 months.
After logging 1.16 trillion gained of orders in 2021, the corporate’s cumulative orders grew rapidly to 1.78 trillion gained in 2022, and practically doubled to three.5 trillion gained final 12 months.
To date, Samsung Biologics serves because the contract producer for 17 of the world’s high 20 pharmaceutical firms. The corporate cited its “superior manufacturing capability, high quality competitiveness and a number of observe data” for its accumulative contract values which surpassed $15.4 billion since its institution in 2011.
To satisfy the rising international demand, the corporate is increasing capability by constructing its fifth manufacturing plant in Incheon’s Songdo. The 180,000-liter plant is scheduled to open in April subsequent 12 months, and as soon as it’s accomplished, the corporate’s total capability will attain 784,000 liters per 12 months.
Samsung Biologics stated it has achieved a 99 p.c batch success charge up to now, which means just one batch was faulty out of 100 batches of drug substances produced, and it has gained 326 manufacturing approvals from international regulators, together with 39 from the U.S. Meals and Drug Administration and 34 from the European Medicines Company.
The corporate stated it has attended a sequence of world bio and pharmaceutical conferences within the U.S., Europe and Asia this 12 months to develop its enterprise community and acquire alternatives for future contracts. Earlier this month, Samsung Biologics officers joined the CPHI Worldwide bio commerce present in Milan, Italy and Bio Japan 2024 in Yokohama.
