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[Alpha Biz=(Chicago) Reporter Kim Jisun] Samsung BioLogics announced on the 18th that it has signed a long-term consignment production (CMO) contract with a subsidiary of global pharmaceutical company Bristol Myers Squibb (BMS) until 2030.
The contract is worth 242 million U.S. dollars (321.3 billion won), and Samsung BioLogics' cumulative order of 3 trillion won this year has also given a green light.
BMS is a leading US company and the seventh largest pharmaceutical company in the world and is developing treatments for cancer, blood, immunity and cardiovascular disease. Especially, new businesses such as kymeric antigen receptor T cell (CAR-T), which is attracting attention as a next-generation bio technology, are expanding.
Samsung BioLogics has been in partnership for more than 10 years since signing a consignment production contract with BMS for the first time in 2013 when the first plant was in operation. Samsung BioLogics plans to use its fourth plant, which started full operation in June, as a production base for immuno-cancer drugs, the BMS's flagship product, over the next seven years.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
