Samsung Biologics announces new US$518M CDMO agreement

SOUTH KOREA—Samsung Biologics, a leading contract development and manufacturing organization (CDMO) based in South Korea, has announced a new production contract valued at 737.3 billion Korean won, which is approximately US$518 million.

 This agreement, signed with an undisclosed U.S. pharmaceutical company, is set to run through the end of 2031 and accounts for about 16.2% of Samsung Biologics’ consolidated revenue for 2024.

 The company revealed these details in a recent financial filing, though it did not specify which biologic drugs would be manufactured under the deal.

This latest contract follows a series of major agreements for Samsung Biologics.

Notably, in October, the company secured a $1.2 billion contract with an unnamed Asia-based pharmaceutical firm, with that partnership extending through December 2037.

These deals highlight Samsung Biologics’ growing influence and reliability in the global biomanufacturing sector, especially as other CDMOs have faced slowdowns due to post-pandemic market shifts and reduced biotech funding.

Samsung Biologics has been on a rapid expansion trajectory.

In January 2025, the company reported that its full-year 2024 sales rose by 23%, reaching 4.55 trillion won (about US$3.3 billion).

 This growth stands in sharp contrast to the broader CDMO industry, where many peers have experienced stagnation or decline.

The company attributes its robust performance to a combination of expanded manufacturing capacity, operational excellence, and strategic investments in new technologies.

A key milestone in Samsung Biologics’ expansion is the opening of its fifth manufacturing plant in Songdo, South Korea, scheduled for April 2025.

 This new facility will add 180,000 liters of production capacity, bringing the company’s total annual capacity to 784,000 liters.

 In response to surging demand for biologic medicines, Samsung Biologics is also considering the construction of a sixth plant, which would further boost its capacity to 964,000 liters, pending board approval.

In addition to increasing its physical footprint, Samsung Biologics is expanding its service offerings.

The company recently launched antibody-drug conjugate (ADC) services at a dedicated facility, aiming to meet the rising demand for these advanced therapeutics.

 This move is part of a broader strategy to invest in innovative modalities and manufacturing technologies, ensuring that Samsung Biologics remains at the forefront of the biopharmaceutical manufacturing industry.

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