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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Jisun] Samsung Biologics announced on the 18th that the contract size for bio-pharmaceutical contract manufacturing (CDMO) with U.S.-based Baxter Healthcare has been increased from the original 168 billion won to 250.9 billion won. This brings their accumulated orders for this year to over 1 trillion won.
The initial contract between the two parties was signed in July 2017, where the partner's name was not disclosed due to confidentiality reasons. However, with this increased contract, their long-term partnership has now been revealed after seven years. Under the revised agreement, Samsung Biologics will continue to serve as Baxter's CMO (Contract Manufacturing Organization) for pharmaceuticals until the end of 2034.
Samsung Biologics has secured contracts with 16 out of the top 20 global pharmaceutical companies (based on market capitalization) as CMO customers. Considering subsidiaries and companies in competitive relationships, there are about 1 to 2 potential clients left for future orders.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
