June 8, 2023: South Korea-based Samsung Biologics has secured a lucrative contract worth $411 million from pharmaceutical powerhouse Pfizer to produce biosimilars for it. As part of this agreement, Samsung will provide increased manufacturing capabilities to accommodate the production of a diverse range of biosimilars, including those related to oncology, inflammation, and immunology. Samsung intends to utilise its latest establishment, Plant 4, for the purposes of production.
Pfizer's collection of biosimilars includes imitations of Roche's trio of cancer drugs, namely Rituxan, Avastin, and Herceptin, along with similar versions of Johnson & Johnson's Remicade and Amgen's Neupogen. The partnership with Samsung is expected to involve the production of Pfizer's biosimilar counterpart to AbbVie's Humira. While Amgen already offers a copycat of Humira, Pfizer and several other players are poised to enter the market this year.
Samsung Biologics' agreement with Pfizer is valued at $411 million, making it the largest deal of its kind for the company and exceeding its previous record deal of $359.7 million with AstraZeneca. This new agreement comes after Samsung Biologics' earlier $184 million deal with Pfizer, which was signed in March.
“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 John Rim, President and CEO of Samsung Biologic in an official press release. He further stated, “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 in order to provide our clients with even more flexible and advanced manufacturing technology.”
Once the plant is fully constructed, Samsung Biologics will uphold its position as a global leader in biomanufacturing capacity, boasting a total of 784,000 litres. By leveraging their respective strengths and resources, both companies are poised to make significant contributions to advancing global healthcare while also shaping the landscape of biosimilar manufacturing and delivering innovative healthcare solutions to patients worldwide.