Samsung Biologics signs $1.4 bn CMO deal with European pharma

South Korea's Samsung Biologics Co., the world’s largest contract drugmaker, said on Tuesday it signed a $1.4 billion contract manufacturing organization (CMO) deal with an unidentified European biopharmaceutical firm.

This deal marked the company's largest-ever CMO contract, representing 56.15% of its 2024 revenue and 40% of orders it received last year. 

The contract runs through Dec. 31, 2030. The client and product names weren't disclosed due to a confidentiality agreement.

Samsung Biologics said the latest contract surpassed the $1.1 billion CMO deal with an Asian pharmaceutical company it inked last October. 

Since its foundation, the company's cumulative orders have exceeded $17.6 billion.

Samsung Biologics is building a fifth plant with an annual production capacity of 180,000 liters, which is expected to be operational in April. 

After the plant comes online, it will have a total capacity of 784,000 liters per year, the company said.

Write to Jeong Min Nam at peux@hankyung.com