November 21, 2024

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Samsung Biologics' Plant 4 in Songdo, Incheon (Samsung Biologics)

Samsung Biologics said Wednesday that its cumulative orders this year have exceeded 5 trillion won ($3.59 billion), driven by consecutive large-scale deals with global pharmaceutical companies.

In a regulatory filing, the company announced two new contract manufacturing agreements with a European pharmaceutical firm worth a combined 930.4 billion won. While specific product details remain undisclosed, the contracts will run through December 2031.

As of November, Samsung Biologics has secured 11 contracts this year, totaling approximately 5.3 trillion won, which compares to last year’s 3.5 trillion won. Earlier this year, the company signed three megasized deals exceeding 1 trillion won each, including agreements with pharmaceutical firms in the US, Asia and Europe.

Currently, Samsung Biologics serves 17 of the world’s top 20 pharmaceutical companies, with its manufacturing operations achieving a 99 percent batch success rate. As of late October, the company had obtained 339 regulatory approvals globally, including 38 from the US FDA and 33 from the European Medicines Agency.

Looking ahead, Samsung Biologics plans to expand its production capacity with the completion of its fifth plant in April 2025, increasing its total capacity to 784,000 liters.

"This year, we have actively participated in major global pharmaceutical and biotech conferences across the US, Europe and Asia to strengthen our competitiveness, expand networking and secure new orders," a Samsung Biologics official said. "We are also enhancing our global presence, including opening a sales office in Tokyo to reinforce collaboration with clients."

By Hwang Joo-young (flylikekite@heraldcorp.com)