Undisclosed partner contract marks 16.2% of 2024 revenue; agreement effective through 2031
Samsung Biologics announced on April 28th that it has signed a contract manufacturing (CMO) agreement worth approximately 8 million with a U.S.-based pharmaceutical company.
The deal accounts for 16.21% of the company’s 2024 consolidated revenue, which totaled .19 billion. The agreement will be in effect from April 28, 2025, to December 31, 2031, with the end date subject to change based on mutual consent.
The contracting party has not been disclosed due to business confidentiality but is expected to be revealed after December 31, 2031. The contract value, set at USD 513.96 million, was converted to Korean won using an exchange rate of KRW 1,434.60 per dollar as of the signing date.
Samsung Biologics has recently secured several large-scale biologics manufacturing orders and is expected to further strengthen its position in the global CMO market through this agreement.