Contract manufacturer Samsung Biologics will produce biosimilar drugs for Pfizer as part of a long-term agreement, the two companies announced last week.
Under the $411 million agreement, the South Korea-based contract development and manufacturing organization will provide large-scale manufacturing capacity for Pfizer’s copycat versions of biologic medicines, which include drugs for cancer, inflammatory illnesses like arthritis and Crohn’s disease and autoimmune diseases.
Pfizer declined to share further details on the partnership.
The drugs will be manufactured at Samsung Biologics new plant in Incheon, South Korea, which was completed on June 1. The CDMO said it now plans to establish a fifth plant in the city by 2025, “in response to surging demand for biologics.”
The new plant will add 180,000 liters of production capacity, allowing Samsung Biologics to maintain the world’s largest biomanufacturing capacity at 784,000 liters, according to the company.
“We are pleased to extend the strategic collaboration with Pfizer as we share and support their strong vision to bring innovative solutions for patients around the globe,” said President and CEO of Samsung Biologics John Rim in a statement. “This new meaningful partnership comes just as our Plant 4 is fully completed early this month as we had previously committed and are on the move for future expansion into our second campus.”
The deal marks the second time the pharmaceutical company has tapped Samsung Biologics for manufacturing services this spring. In March, Pfizer struck a $183 million deal with Samsung Biologics for manufacturing through 2029.
