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Samsung Biologics signed a new deal with GSK, formerly GlaxoSmithKline. This will be their second manufacturing deal, and this time the agreement value is $296.1 million.
The amount is said to be almost 30% of the full-year revenue of Samsung last year, which was KRW1.5 trillion or around $1 billion, and the contract with GSK is in effect until the end of 2030. Samsung Biologics is currently the top Contract Manufacturing Organization in the world in terms of capacity, and its latest deal with the said British pharmaceutical industry company is for the supply of biopharma products.
Samsung Biologics and GSK plc confirmed their second collaborative contract late last week. As per The Korea Economic Daily, the biotech unit of the Samsung Group did not disclose the details of the exact products it will make for GSK under their contract.
One of their earlier deals was signed in May 2020, and it was a contract worth $231 million. It was also for the supply of biopharma products for eight years since the contract was made official. To be more specific, this was for the production and delivery of GSK’s Benlysta (belimumab) drug, which is used for the treatment of the autoimmune disease - lupus nephritis.
GSK and Samsung Biologics expanded their deal and signed another contract in August 2020, which was worth $368.1 million. It was a CMO agreement to produce sotrovimab, a SARS-CoV-2 monoclonal antibody that targets the COVID-19 virus.
In any case, the new deal is a remarkable expansion of the business relationship between Samsung Biologics and GSK. They already partnered in several projects, and now larger contracts are coming up
Meanwhile, Fierce Pharma reported that the new agreement comes as Samsung Biologics launches its “Super Plant,” which is also its fourth manufacturing facility. It sits in the company’s huge complex in Incheon, South Korea. It has invested more than $2 billion in the construction of this massive plant as part of its ambitious plan to become a major global player in the contract development and manufacturing organization scene.
