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 “long-term” deal can be expanded to $546 million and will help “accelerate Korean bio-health innovation,” according to a release.
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Spokespersons for AstraZeneca and Samsung could not be reached for further 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.
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