Samsung Biologics Signs Letter of Intent for 535 Billion KRW CMO Deal with Pfizer

"Strategic Partnership for Long-term Contract Manufacturing"
Contract Manufacturing of Various Products Including Tumor, Inflammation, and Immunotherapy Agents

Samsung Biologics announced on the 8th that it has signed a letter of intent for a contract manufacturing organization (CMO) agreement worth 535 billion KRW with Pfizer.

Samsung Biologics Plant 3 exterior view.
[Photo by Samsung Biologics]

The contract amount corresponds to 17.83% of Samsung Biologics' sales revenue last year. A Samsung Biologics representative explained, "The contract amount is binding between the two companies, and if a formal contract is signed in the future, the confirmed details will be disclosed." The contract period is from the date of signing the letter of intent to the signing of the formal contract.

Samsung Biologics described this contract as a strategic partnership between the two companies for long-term contract manufacturing of multiple types of pharmaceuticals. Previously, the two companies signed their first contract manufacturing agreement for one product in March. Following this additional contract, Samsung Biologics plans to manufacture Pfizer’s diverse portfolio of biosimilars, including oncology, inflammation, and immunotherapy drugs, at its recently completed Plant 4.

John Rim, President of Samsung Biologics, said, "We are pleased to expand our cooperation with Pfizer, which shares the vision of providing innovative solutions to patients worldwide." He added, "This contract was made possible by the on-schedule completion of Plant 4 earlier this month, and Samsung Biologics is accelerating the expansion of its second bio campus to provide more flexible and advanced contract manufacturing services to our clients."

Mike McDermott, Pfizer’s Chief Global Supply Officer, stated, "This partnership is a good example reflecting Pfizer’s trust in the Korean pharmaceutical industry," and added, "We are pleased to continue and expand our strategic partnership with Samsung Biologics to provide better treatment options to patients worldwide."

Oh Dong-wook, President of Pfizer Korea, added, "Collaboration with Samsung Biologics will contribute to responding to the increasing potential health crises and significantly improving patients’ lives."

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