Samsung Biologics wins $242 mn order from Bristol Myers Squibb

Samsung Biologics Co., the world’s largest contract drugmaker, said on Monday it has signed an agreement to produce $242 million worth of antibody cancer drug substance for Ireland-based Swords Laboratories Unlimited Co., a subsidiary of the global biopharmaceuticals giant Bristol Myers Squibb.

The South Korean biopharmaceuticals company will produce the medicine through 2030 at its Incheon-based Plant 4, the world’s largest biomanufacturing facility of its kind.

Including this deal, Samsung Biologics has recorded 2.7 trillion won ($2 billion) in orders so far this year.

The company said in July it has signed two deals worth a combined $897.2 million with US pharmaceuticals behemoth Pfizer Inc. The same month, it clinched a $391 million deal with Switzerland-based Novartis. The types of products it would supply were not disclosed.

The Samsung Group unit said it has won orders from 14 of the world’s top 20 pharmaceuticals companies since its inception in 2011. Its latest earnings report will reflect sales from Plant 4, which began full operation in June, from its third-quarter performance.   

Samsung Biologics has maintained a partnership with Bristol Myers Squibb since 2013 when the Korean drugmaker opened its first plant.

The company has injected 2 trillion won into its fifth plant, for which construction began in April and is due to be completed by April 2025. With an annual production capacity of 180,000 liters, it will raise the company’s total manufacturing capacity to 784,000 liters per year.

Write to Dae-Kyu Ahn at powerzanic@hankyung.com
Jihyun Kim edited this article.