INCHEON, South Korea, Samsung Biologics (KRX: 207940.KS), a global contract development and manufacturing organization (CDMO), announced a contract manufacturing deal with an Asia-based pharmaceutical company.

The disclosed deal, worth USD 1.24 billion, is the largest contract signed by a single client. Production will take place at Samsung Biologics' biomanufacturing site in Songdo, South Korea and the contract runs through December 2037. With the latest agreement, the company's accumulated contract for 2024 surpasses USD 3.3 billion.

"We are pleased to strategically collaborate with the Asia-based pharmaceutical company to bring effective, high-quality biopharmaceuticals to the global market," said John Rim, President and CEO of Samsung Biologics. "The deal comes at a significant time as we proactively build on our biomanufacturing capacity to readily support our clients. Leveraging our capabilities and proven expertise, we plan to maintain momentum for further expansion by fostering trusted and sustainable partnerships with potential and existing clients for mutual growth, and ultimately help patients with unmet needs."

Samsung Biologics has now to date partnered with 17 of the world's top 20 pharmaceutical companies, and continues to expand its customer base to key regions, including Japan. In addition to sales offices in the U.S., the company is planning to open a regional office in Tokyo to further enhance relationships with clients.

Samsung Biologics is on track to completing the construction of a dedicated ADC facility within the end of this year. A fifth plant is set to be operational in April 2025 to add a fresh capacity of 180 kL, for a total of 784 kL across Plants 1~5. To help clients better address emerging health challenges and improve the lives of patients, the company continues to launch innovative CDO platforms and implement manufacturing technologies to support complex projects, including the development and production of multispecifics.