2024-07-02 09:12:19
Contract with US pharmaceutical firm till 2030… Firm and product undisclosed
Largest single contract order ever
A mega contract price 40% of the overall order quantity in 2023
Overwhelming manufacturing capability, high quality competitiveness, and many others.
Acquired 16 of the world’s prime 20 company purchasers
Samsung BioLogics has signed its largest ever order contract with a U.S. pharmaceutical firm. It’s the results of the corporate’s steady funding of trillions of gained, together with the development of its fifth plant final yr, to strengthen its manufacturing capability.
Samsung BioLogics introduced on the 2nd by means of a public disclosure that it had signed a contract manufacturing group (CMO) contract price 1.4637 trillion gained (1.06 billion {dollars}) with a U.S.-based pharmaceutical firm. This can be a mega-contract exceeding 40% of the overall annual order quantity (3.5009 trillion gained) final yr. This contract, which follows the letter of intent (LOI) signed in June of final yr, was signed with a scale of 1.3164 trillion gained greater than the LOI. The title of the U.S. pharmaceutical firm and the product title weren’t disclosed in accordance with the confidentiality clause. As it is a record-breaking contract, the contract interval can be lengthy, ending on December 31, 2030.
With this contract, Samsung BioLogics has achieved a cumulative order quantity of over 2.5 trillion gained in simply half a yr. The whole variety of contracts this yr is 7, of which 6 are improve contracts to broaden the prevailing contracted manufacturing quantity because of the excessive degree of belief in Samsung BioLogics merchandise and high quality.
Specifically, Samsung BioLogics is gaining reputation and recognition among the many world’s prime pharmaceutical firms. It at the moment has 16 of the highest 20 international pharmaceutical firms when it comes to market capitalization as its purchasers. Evaluation means that its overwhelming manufacturing capability, high quality competitiveness, and confirmed observe file have been efficient in strengthening partnerships with international pharmaceutical firms.
The response to preemptively strengthening manufacturing capability can be extremely evaluated. Samsung BioLogics determined to construct a fifth plant final yr to shortly reply to the rising demand for biopharmaceuticals. It’s being constructed with a capability of 180,000 liters, with the objective of completion in April subsequent yr. When the fifth plant is accomplished, Samsung BioLogics is predicted to have a complete manufacturing capability of 784,000 liters.
When it comes to high quality, the cumulative variety of regulatory company approvals as of June this yr was 278. Final yr, it recorded a 99% batch success fee, proving its wonderful high quality competitiveness in all areas of pharmaceutical manufacturing and administration. As a part of the enlargement of its enterprise portfolio, it is usually constructing a devoted manufacturing facility for antibody drug conjugates (ADCs), that are thought of next-generation anticancer medication. The plan is to finish operational preparations by the top of the yr.
Kim Min-beom, Donga.com reporter [email protected]
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2024-07-02 09:12:19