Samsung Biologics inks biosimilar manufacturing deal with Pfizer
Under the new deal, Samsung Biologics will provide Pfizer with additional capacity for large-scale manufacturing for a multi-product biosimilars portfolio covering oncology, inflammation, and immunology.
The South Korean contract development and manufacturing organisation (CDMO) will use its newest facility, Plant 4, for the manufacturing.
The partnership follows an initial manufacturing tie-up between Samsung Biologics and Pfizer in March 2023 for a Pfizer product.
According to a company filing, the agreement is valued at some $411 million.
“We are pleased to extend the strategic collaboration with Pfizer as we share and support their strong vision to bring innovative solutions for patients around the globe,” said John Rim, CEO and president of Samsung Biologics.
“This new meaningful partnership comes just as our Plant 4 is fully completed early this month as we had previously committed and are on the move for future expansion into our second campus in order to provide our clients with even more flexible and advanced manufacturing technology.”
Mike McDermott, chief global supply officer, executive vice president at Pfizer, added: “Pfizer is excited to continue our strategic partnership with Samsung Biologics Ltd. that aims to enable greater access to medicines for more patients across the world.”
“This commitment is a reflection of Pfizer’s trust in the Korean Pharmaceutical industry to address emerging health challenges.”
The news comes after Samsung Biologics recently announced that its next facility, Plant 5, will be operational by April 2025, several months earlier than expected.
“Plant 5 will leverage our unparalleled experience and expertise to deliver long-term success for our clients. By expediting our capacity expansion and providing fully integrated services, we hope to close the gap between the demand and supply of life-saving biomedicines,” Rim said at Bio International 2023.
