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Samsung Biologics and Novartis announce US$310M manufacturing deal

Jul 10, 2023

Samsung Biologics announced in a regulatory filing with Korea Exchange that it has signed a 511B (US$390M) contract with Novartis to manufacture its products in Korea from 1 January 2023 through to the end of 2028. The exact products which will be produced at the plant have not been revealed.  

The deal was announced on 7 June last year, when Samsung Biologics and Novartis signed a letter of intent for the deal. It was originally worth ₩100B (US$81M), however the companies have increased the investment by ₩411B.  

On 4 July 2023, Samsung Biologics announced two manufacturing deals with Pfizer worth US$897M.