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Samsung Biologics signs US$81M CMO contract with unnamed EU pharma company

Jun 5, 2023

Samsung Biologics revealed in a regulatory filing with Korea Exchange that it has signed a US$81M CMO contract with a ‘European pharmaceutical company’.  The contract amount is 3.58% of sales and is binding on the two companies.  Samsung said that when the main contract is concluded in the future, the confirmed details will be disclosed.  The EU pharma company name must be disclosed by 1 January 2024 according to the corporate filing.

In March 2023, Samsung Biologics announced it will begin construction of its fifth plant in Korea.