Samsung Biologics, a South Korean-headquartered contract development and manufacturing organization (CDMO), said its $1.8 billion acquisition of Switzerland-based PolyPeptide Group AG is moving closer to completion after receiving tenders for nearly 98% of the shares covered by its public offer. The definitive result follows the close of the additional acceptance period on Oct. 30.

The transaction, made through Samsung Biologics’ Swiss subsidiary Samsung Peptide AG, was initially expected to settle on Nov. 13. However, the company said settlement has been postponed pending regulatory approval procedures in several countries.

Subject to fulfillment of the remaining offer conditions, completion is now expected toward the end of 2026 or in the first quarter of 2027. Samsung Biologics will announce the settlement date once those conditions have been met. Following settlement, Samsung Peptide intends to pursue a squeeze-out of remaining minority shareholders and delist PolyPeptide from the SIX Swiss Exchange.

The acquisition is intended to expand Samsung Biologics’ manufacturing services beyond antibodies and antibody-drug conjugates to include peptide production. PolyPeptide operates six manufacturing facilities across Europe, India, and the United States, with capabilities spanning peptide active pharmaceutical ingredient development and commercial manufacturing.

The combination would add peptide manufacturing to Samsung’s existing biologics network and expand its geographic reach. The company previously said the acquisition would support its strategy to offer a broader range of manufacturing modalities and services, including peptide therapeutics such as GLP-1-based products.