Samsung Biologics Signs 420 Billion KRW Deal with GSK... Will It Achieve Record-Breaking Performance?

Achieving $1.3 Billion in Orders This Year

Will It Surpass the Previous Record of $1.65 Billion in 2020?

Incheon Songdo Samsung Biologics Plant 3 Exterior (Photo by Samsung Biologics)

[Asia Economy Reporter Chunhee Lee] Samsung Biologics has achieved cumulative orders of $1.322 billion (approximately 1.8957 trillion KRW) this year, raising the possibility of setting a record high annual order amount for the year.

On the 20th, Samsung Biologics announced that it signed a contract worth $296.12 million (approximately 420.7 billion KRW) with GlaxoSmithKline (GSK) for contract manufacturing organization (CMO) of biopharmaceuticals.

With this, Samsung Biologics' cumulative orders for this year have reached $1.322 billion, surpassing last year's order amount of $1.024 billion (approximately 1.4679 trillion KRW). If such orders continue, it is expected that the annual record order amount of $1.655 billion (approximately 2.3725 trillion KRW) achieved in 2020 could be exceeded.

Earlier, in February and March, Samsung Biologics announced the start of this year's order battle by securing an additional $104 million in orders through volume changes in existing contracts with GSK. This was followed by contracts worth $92.04 million with Eli Lilly in March and $124.1 million with a European pharmaceutical company in April.

In June, Samsung Biologics signed its first-ever CMO contract ($81 million) with Novartis, a global big pharma ranked 5th worldwide by sales last year, securing more than half of the top 10 global big pharma companies as clients. According to GlobalData, last year's big pharma sales rankings were Johnson & Johnson (J&J), Pfizer, Roche, AbbVie, Novartis, Bayer, Merck, GlaxoSmithKline (GSK), Bristol-Myers Squibb (BMS), and Sanofi. Samsung Biologics had existing partnerships with J&J, Roche, Merck, GSK, and BMS, and has now succeeded in adding Novartis as a client.

In July, Samsung Biologics secured contracts worth $172.39 million with Merck (MSD) in the U.S. and $81.26 million with Cilag GmbH International, a J&J affiliate based in Switzerland. Since then, it has actively pursued orders, including a $350.97 million amendment contract with AstraZeneca (AZ) in August and a $20.12 million amendment contract with a European pharmaceutical company last month.

This content was produced with the assistance of AI translation services.