Samsung Biologics has inked a new manufacturing agreement worth 737.3 billion Korean won (approximately $518 million) with an undisclosed U.S.-based pharmaceutical company.
According to a regulatory filing, the contract is set to run through the end of 2031 and represents about 16.2% of the company’s consolidated revenue from 2024.
The South Korean contract development and manufacturing organization (CDMO) did not specify which biologic drugs it would be producing under the new deal. The announcement comes less than a year after Samsung Biologics revealed a $1.2 billion agreement with an unnamed Asia-based company, which will extend through 2037.
In January, Samsung said its fifth plant in Songdo would open in April with 180,000 liters of production capacity. The company is also weighing plans for a sixth plant at the same site to keep pace with rising demand for biologics, as shared during a presentation at the J.P. Morgan Healthcare Conference.
Back in April, Samsung reported strong first-quarter 2025 results, more than doubling its net and operating profit from the previous year. Net income rose to 375.6 billion Korean won, up from 179.4 billion won in Q1 2024. Operating profit reached 486.7 billion won, more than twice the 221.3 billion won recorded a year earlier.
Revenue for the quarter climbed 37.1% to 1.29 trillion won. The CDMO attributed the performance to full utilization of its first three plants, a stable ramp-up of Plant 4, and favorable exchange rates. The company projected full-year revenue growth of 20% to 25%, despite global trade uncertainties.
In the same month, Samsung brought Plant 5 online at its Bio Campus II in Songdo, adding 180,000 liters of capacity. The facility features digitalized systems designed to boost quality and efficiency, raising Samsung’s total antibody production capacity to 784,000 liters.
The company also expanded its ADC operations, launching a dedicated facility with a 500-liter reactor and extending its collaboration with LigaChem Biosciences. Plans for a sixth plant are underway, pending board approval.