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Photo = Yonhap news |
[Alpha Biz= Kim Jisun] Samsung Biologics announced on April 28 that it has signed its second contract manufacturing organization (CMO) agreement of the year, valued at approximately USD 513.96 million (KRW 7.373 trillion), with a U.S.-based pharmaceutical company. The contract represents 16.2% of the company’s 2023 revenue and runs through December 31, 2031.
Following the record-breaking CMO contract worth KRW 2.0747 trillion signed in January, Samsung Biologics' total order volume for 2024 now stands at approximately KRW 2.812 trillion. With just two contracts, the company has already secured nearly half of its total order intake for all of 2023 (KRW 5.4035 trillion), setting the stage for another record-breaking year.
Samsung Biologics’ strong performance is attributed to its continuous expansion of production capacity and competitive quality standards. With the launch of its Plant 5 earlier this month, boasting an 180,000-liter capacity, the company’s total production capacity has expanded to 784,000 liters—cementing its position as the global leader. Samsung plans to further enhance its capabilities by adding three more plants at its Second Bio Campus by 2032, ultimately reaching a total capacity of 1.324 million liters.
In addition to capacity expansion, Samsung Biologics is broadening its portfolio. The company’s dedicated antibody-drug conjugate (ADC) production facility began operations in the first quarter of this year. Moreover, through its Samsung Life Science Fund, the company has invested in U.S.-based biotech firm C2N Diagnostics, further advancing its strategy of preemptive investments in promising bio ventures.
Samsung Biologics is also strengthening its global client network. Following its sales offices in New Jersey and Boston, the company recently opened a new office in Tokyo, Japan, to enhance engagement with clients in the Asia region and provide faster service through closer proximity.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
