Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP NEWS AGENCY) = Samsung Biologics announced on the 2nd that it has signed its largest-ever contract manufacturing (CMO) agreement, valued at 1.4637 trillion won ($1.06 billion), with a U.S.-based pharmaceutical company. This deal exceeds 40% of last year's total contract amount of 3.5009 trillion won.

This contract, a formalization of a Letter of Intent (LOI) has seen a significant increase of 1.3164 trillion won ($947.49 million) from the initial LOI signed in June last year. The contract term extends until December 31, 2030.

With this agreement, Samsung Biologics' cumulative annual order intake has surpassed 2.5 trillion won in just six months. Since the first contract in March, the company has signed a total of seven agreements with global pharmaceutical companies. Six of these contracts are expansions, reflecting increased production volumes based on the trust customers have in Samsung Biologics.

Currently, Samsung Biologics has 16 out of the top 20 global pharmaceutical companies by market capitalization as its clients, and it continues to strengthen partnerships with global pharmaceutical firms.

In response to the growing demand for biopharmaceuticals, Samsung Biologics is constructing a fifth plant with an 180,000-liter capacity, scheduled for completion in April 2025. Once completed, this will bring the company's total production capacity to 784,000 liters.

By Eun-young Huh(eunyoung114@nspna.com) and Bok-hyun Lee(bhlee2016@nspna.com)

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