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Samsung Biologics. (Photo: Samsung Biologics) |
[Alpha Biz= Kim Jisun] Samsung Biologics Secures Record $2 Trillion Biopharmaceutical CMO Deal
Samsung Biologics announced on Tuesday that it has signed its largest-ever contract manufacturing organization (CMO) agreement, worth 2.0747 trillion won ($1.41 billion), with a European pharmaceutical company.
The contract accounts for 40% of the company’s total 2023 orders, valued at 5.4035 trillion won. The agreement will last until December 31, 2030, though the product details remain undisclosed due to confidentiality agreements.
This record-breaking deal comes just three months after Samsung Biologics set a previous record with a 1.7028 trillion won agreement with an Asia-based pharmaceutical firm in October 2023.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
