ESALF - Week In Review: Samsung Biologics Signs $1 Billion Manufacturing Contract With U.S. Biopharma
2024-07-07 07:49:00 ET
Summary
- Samsung Biologics, a Korean CDMO, signed a $1.06 billion agreement to provide manufacturing services for an unnamed US pharma.
- Takeda has made the initial $100 million payment to option global rights (ex-China) for olverembatinib from Ascentage Pharma.
- Japan’s Eisai regained global rights to farletuzumab ecteribulin, its antibody-drug conjugate targeting the FR? protein, after BMS dropped out of their partnership.
Deals and Financings
Samsung Biologics, a Korean CDMO, signed a $1.06 billion agreement to provide manufacturing services for an unnamed US pharma (see story ). The agreement is the largest that Samsung Bio has made since it was founded in 2011. So far this year, the CDMO has signed seven new agreements, totaling $1.8 billion. Six of these are additions to previous contracts. In 2023, Samsung Bio booked $2.7 billion in revenue, a figure that emphasizes how important the new $1 billion deal is to the company. As part of the agreement, Samsung Bio signed a non-disclosure clause protecting the name of the client....
Week In Review: Samsung Biologics Signs $1 Billion Manufacturing Contract With U.S. Biopharma