Samsung Biologics inked a $112.5 million contract manufacturing organization (CMO) letter of intent with an unnamed U.S. biopharmaceutical firm, the Korean company said in a regulatory filing on Monday.
The amount accounted for 4.91 percent of the company’s total sales in 2022.
Samsung Biologics said it would “disclose details after the two sign a formal contract.”
CMO refers to companies that provide drug manufacturing services on a contract basis.
With the latest announcement, Samsung gained CMO orders worth over 750 billion won ($573 million) as of Monday, it said.
Samsung Biologics has major global companies as its clients including seven of the world’s 10 largest pharmaceutical companies including AstraZeneca, Moderna, GlaxoSmithKline, Pfizer and Eli Lilly.
On Monday, Samsung Biologics also said its CMO deal with Switzerland’s Roche rose by $10.8 million to $213 million, extending the contract period to the end of 2027 from the end of 2024.
BY SARAH CHEA [firstname.lastname@example.org]