Samsung Biologics lands record $1.4 billion contract

Samsung Biologics Co Plant 4 Courtesy of Samsung Biologics Co — Samsung Biologics Plant 4/ Courtesy of Samsung Biologics

SEOUL, January 14 (AJP) - Samsung Biologics announced Tuesday it has secured a 2.07 trillion won ($1.4 billion) manufacturing contract with a European pharmaceutical company, its largest deal to date.

The multi-year agreement, spanning until December 2030, accounts for roughly 40 percent of the company's total manufacturing orders secured in 2024, which reached 5.4 trillion won.

This also surpasses the previous record of a 1.7 trillion won contract signed with an Asian pharmaceutical firm in October 2024.

Samsung Biologics, which boasts 17 of the world's top 20 pharmaceutical companies as clients, did not disclose the identity of the European partner or the specific products involved due to confidentiality agreements.

The Incheon-based company is set to commence operations at its fifth plant in April, adding 180,000 liters to its production capacity, bringing the total to 784,000 liters.

Samsung Biologics is actively expanding its global reach, attending major global events such as the 2025 J.P. Morgan Healthcare Conference, a prominent investment gathering for the pharmaceutical and biotech sectors.

Kim Dong-young davekim0807@ajupress.com