[Asia Economy Reporter Seo So-jeong] Samsung Biologics announced on the 3rd that it has signed a contract worth 18.3 billion KRW for contract manufacturing of pharmaceuticals with a US pharmaceutical company.
This contract amounts to 2.61% of last year's sales, and the contract period is until December 31, 2030.
The company stated, "This contract is the formal agreement following the 'Letter of Intent for Biopharmaceutical Production' signed on March 31," adding, "If the client's product development succeeds, the confirmed contract amount is expected to increase to $21,221,800, and if the client's demand increases in the future, the confirmed contract amount may further increase after consultation." They also added, "The contracting party will be disclosed after December 31, 2023, due to business confidentiality reasons."
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