Samsung Biologics Launches US$920 Million Manufacturing Deals For Pfizer

CIOTechOutlook Team | Tuesday, 04 July 2023, 05:39 IST

  • No Image
Samsung Biologics of South Korea announced the signing of two contracts to produce goods for Pfizer valued a combined 1.2 trillion won ($921.38 million).As a result of the most recent agreements, the Samsung Group's biotech division will create biosimilar goods in South Korea at its new Plant 4 up until 2029, covering everything from immunotherapy to oncology and inflammation.
 
As per the statement from Samsung Biologics, the most recent orders from Pfizer raise the total amount of orders from this year to US$1.08 billion. A 922.7 billion won contract and an additional 254.3 billion won order that is a follow-up to a deal that was first announced in March are among the announcements.
 
The orders were welcomed by Samsung Biologics as an enlargement of a strategic alliance, and the company noted that it had already secured contracts for 1.93 trillion won this year, which was more than its total for the entire previous year. Samsung Biologics agreed to partnerships with Eli Lilly Kinsale and GlaxoSmithKline earlier this year.
 
The corporate headquarters of Samsung Biologics are in Songdo, Incheon, South Korea. The Samsung Group's biotech division offers contract research and development and manufacturing services to the biopharmaceutical sector.
 
For COVID-19 therapies, the business has worked with GlaxoSmithKline, Eli Lilly, and AstraZeneca. For the COVID-19 pandemic, Samsung Biologics also collaborated with Moderna on the fill-finish, packaging, and labelling of its mRNA vaccine, Spikevax, and Greenlight Biosciences on the production of a potential mRNA vaccine medicinal substance.
🍪 Do you like cookies?

We use cookies to ensure you get the best experience on our website. Read more...