이 누리집은 대한민국 공식 전자정부 누리집입니다.

한상넷

비즈니스 정보

Biz News Korea(Eng)

Samsung BioLogics bags prospective $148.2 mn deal for its third plant

Collected: 2018.02.22

Distributed: 2018.02.26

Source: Go Direct

Samsung BioLogics Co. which has established the world’s largest bioreactor capacity with the completion of its third advanced plant has secured a contract with the prospect of fetching at least $148.2 million milestone from a U.S.-based drug maker.

The contract comes with an advance payment of $16.6 million by 2019 - equivalent to 6.06 percent of 2016 revenue of the seven-year-old biologics contract maker - and guarantees minimum $148.2 million upon the client’s completion of the drug development. The deal can be stretched upon the client’s demand, the company said in a regulatory filing.

At 1:05 p.m. Thursday, shares of Kospi-listed Samsung Biologics were up 4 percent at 442,000 won.

The company can identify the client on Dec.31, 2019 under confidentiality agreement.

The drug will be the first yield from the company’s third plant Songdo, Incheon, completed in November and equipped with 3D modeling with the single largest capacity of 180,000 liters.

It is awaiting validation to become operational from the fourth quarter of 2018. The company is confident of staying on schedule as its second plant had won license from the U.S. Food and Drug Administration in just 19 months after its Good Manufacturing Practice became ready.

Once the third plant becomes fully functional, Samsung Biologics would have the world’s largest capacity of 362,000 liters to produce complex therapies made of live substances for global drug makers.

Samsung Group, already the world’s largest producer of memory chips, has been betting biomedicines as its next growth engine.

By Shin Chan-ok and Cho Jeehyun

List

Previous: Hyundai, Mercedes-Benz to recall over 53,000 vehicles

Next: Positive outlook for FMCG sector