Samsung Biologics and AstraZeneca have forged a long-term manufacturing and supply agreement, valued at approximately $330.8 million.
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.
By leveraging Samsung Biologics’ capabilities in the manufacturing of high-quality biopharmaceuticals, this new partnership will enable AstraZeneca to expand its biologics manufacturing capabilities into Asia Pacific.
According to AstraZeneca, this collaboration agreement is also expected to accelerate Korean bio-health innovation.
“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.
Dr Tae Han Kim, CEO of Samsung Biologics, added: “At Samsung Biologics, our people share this common purpose to help our clients bring innovative solutions to an array of diseases, and we look forward to delivering on our promise to aid in AstraZeneca’s ongoing expansion program.”