Samsung Biologics (Samsung Bio), which announced mega contracts with Pfizer and Novartis, has surpassed 2 trillion won in half-yearly orders for the first time since its founding.

According to Samsung Bio on July 10th, it made a 500 billion won deal with Novartis in less than a week after announcing a 1.2 trillion won ($897 million) CMO deal with Pfizer.

The deal is the finalization of a letter of intent (LOI) signed in June last year and valued exactly at 511 billion won (approximately $390 million).

Samsung Bio's cumulative contract for this year amounted to 2.38 trillion won, surpassing the 2 trillion won mark in half a year. This is a record amount, breaking the previous record of 1.9 trillion won ($1.66 billion) set in 2020.

Depending on the second half performance, the cumulative order book for this year is expected to be even larger.

Samsung Bio has won major global Big Pharma companies as its customers and is increasing its volume of large long-term orders based on its bid competitiveness. It has secured 13 of the top 20 global Big Pharma companies as its customers.

Samsung Bio's success in securing a series of large contracts can be attributed to CEO John Rim's strong global network and management approach pursuing maximization of customer satisfaction.

With his extensive experience in the global pharmaceutical and biotechnology industry and Samsung Bio's largest global production capacity, Mr. Rim has targeted global Big Pharma customers to win orders, and this year, he is directly involved in global sales to strengthen partnerships with customers.

As global demand for biopharmaceuticals surged, Samsung Bio invested proactively and secured production capacity in advance. Starting with Plant 1 (30,000 L) in 2011, Plant 2 (154,000 L) and Plant 3 (180,000 L) were added in 2013 and 2015, respectively, and the construction of Plant 4 (240,000L), the world's largest single plant, was begun in 2020, which started full operation in June 2023.

Samsung Bio is also actively responding to blockbuster markets such as Alzheimer's drugs.

An official from Samsung Bio said, "We are expanding our global footprint with a focus on North America to shorten the physical distance between us and our customers and to provide rapid service. We opened our SBA New Jersey sales office in March 2023 in addition to one in San Francisco, the US's leading biotech cluster, in October 2020, to provide flexible and rapid service to our global customers."

[WIKI KOREA=Cho Pil Hyun, Staff Reporter]

chop23@wikileaks-kr.org

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