Samsung BioLogics nabs $1.24 bn CMO deal

Samsung Biologics Headquarters. (Samsung Biologics)

Samsung BioLogics Co. announced on Tuesday that it won a contract manufacturing organization (CMO) deal worth 1.7 trillion won ($1.24 billion) with an Asia-based pharmaceutical company. Any details about the contractor and the product remain undisclosed due to a confidentiality agreement.

The deal is the largest order Samsung BioLogics has ever seen in its history, and the contract will run until December 31st, 2037. Tne company has signed nine contracts in 2024 to date with the latest deal, pushing the year‘s order value to 4.36 trillion won.