Unlike some other manufacturers, Samsung Biologics has enjoyed a revenue boost from the novel coronavirus pandemic, and it's accelerating its expansion plans to match. With a $2 billion "super plant" in the offing, Samsung now has a new Big Pharma supply deal in place to keep driving growth.
AstraZeneca tapped Samsung Biologics for a $331 million supply pact to produce bulk drug substance and "drug product to support AstraZeneca's biologics therapeutics" at the CMO's Plant 3 facility in Incheon, South Korea, the partners said Tuesday.
The deal can be expanded to $546 million and will help "accelerate Korean bio-health innovation," according to a release.
An AstraZeneca spokesman said the supply pact would last "several years" and didn't specify which biologics products would be included. A Samsung spokesperson could not be reached for comment by press time.
Samsung's newest supply pact comes as the Korean contract manufacturer revs up its aggressive expansion plans, including building a $2 billion biologics "super plant" that would rank among the largest in the world.
