Pfizer and Samsung Biologics agree on new deal

 

Pfizer and Samsung Biologics have agreed on two manufacturing contracts for $897M that will be produced in Samsung Biologics' Plant 4 in South Korea through 2029.  The agreements concern the development of biosimilar medicines for Pfizer, including those for oncology, inflammation, and immunotherapy. Pfizer has placed orders worth $1.08B with Samsung Biologics this year, comprising a new $704M contract and a $193M follow-up order revealed in March. Samsung Biologics sees these strategic orders as an expansion of its strategic alliance with Pfizer. The volume of contracts for the South Korean biotechnology company's entire calendar year has surpassed the prior year's. With plans to invest $1.54B in a new factory in South Korea through September 2025, Samsung Biologics had previously agreed to contracts with Eli Lilly Kinsale and GlaxoSmithKline.