Samsung's CMO deal with Swiss firm upgraded by $67 mn

Minu Kim 2021. 1. 21. 14:33

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Samsung Biologics’ contract manufacturing deal previously signed with an unnamed Swiss pharmaceutical company has been upgraded by $67.48 million to total $449.43 million.

The new contract value represents 104.1 percent of the company’s revenue in 2017, the company said in a regulatory filing on Wednesday.

The increase reflects more demand for biologic agent production from the customer whose name remains confidential until Dec.31, 2022 due to business secret reasons.

Samsung Biologics inked its first CMO agreement with the Swiss company in April 2018 ahead of its stock market debut in Korea. The original contract value was $335.75 million that time before it was upgraded to $381.93 million in Dec. 2019.

Shares of Samsung Biologics closed Thursday 0.13 percent higher at 796,00 won ($724.43).

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Samsung's CMO deal with Swiss firm upgraded by $67 mn