Samsung Biologics and AstraZeneca announced a long-term supply agreement, valued at approximately $330.8 million. Under this agreement, Samsung Biologics will provide large-scale commercial manufacturing for drug substance in its Plant 3 as well as drug product to support AstraZeneca’s biologics therapeutics, which could be increased to $545.6 million.
This new partnership will enable AstraZeneca to expand its biologics manufacturing capabilities into the Asia Pacific. According to AstraZeneca, this collaboration agreement is also expected to accelerate Korean bio-health innovation.
Prior to this deal, a LOI signing event was held in June this year at Samsung Biologics’ headquarters in Incheon.
“This long-term partnership with Samsung Biologics strengthens our manufacturing capabilities, and ensures we are well-positioned to continue to deliver our exciting portfolio of new and established biologics medicines to patients with quality, speed and efficiency,” said Pam Cheng, EVP Global Operations and IT, AstraZeneca.
“We are very proud to partner with AstraZeneca, a company that uses a rich history of science-led innovation to serve patients,” said Dr Tae Han Kim, CEO of Samsung Biologics.