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AstraZeneca Korea CEO Kim Sang-pyo (fourth from right), Samsung Biologics CEO Kim Tae-han (fourth from left) and officials from the Health Ministry and Industry Ministry convene to sign a letter of intent on June 25 at Samsung Biologics’ headquarters in Songdo, Incheon. AstraZeneca‘s Chairman Leif Johansson (top screen) and Asia-Pacific product supply head Margareta Ozolins Nordvall (lower screen) joined online due to COVID-19. (Samsung Biologics) |
Samsung Biologics signed to contract manufacture AstraZeneca‘s biologics drug for its global distribution, the company said Tuesday.
The size of the contract is $330,840,300, open to grow to $529,599,900 if demand grows for AstraZeneca’s product.
This deal seals the letter of intention Samsung Biologics and AstraZeneca forged on June 23. The contract culmination date is tentatively written as the end of 2028.
“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, AstraZeneca‘s global operations head.
Samsung Biologics will produce both the drug substance, meaning the drug itself, and the finished drug product, meaning the version packaged for sales.
It will use its most cutting-edge facility, factory No. 3, for production of the AstraZeneca drug.
AstraZeneca is entering full-fledged cooperative symbiosis with Korean biologics and health care companies.
On July 21, the company also signed with SK Bioscience to have its COVID-19 vaccine contract manufactured through the Korean firm.
By Lim Jeong-yeo (
kaylalim@heraldcorp.com)
