Surging Order Receipts
Samsung Biologics announced on May 22 that it has signed a supply contract worth at least US$381.25 million with two global pharmaceutical companies. The amount is equivalent to 66.7 percent of its sales of 701.5 billion won in 2019.
It has signed a partnership with British pharmaceutical group GSK to additionally produce and supply biopharmaceuticals worth US$231.25 million over eight years. It will be in charge of producing GSK's Lupus treatment, Benlysta. Starting with a technology transfer in 2020, supply will begin in 2021.
It also signed a US$150 million contract with a U.S.-based pharmaceutical company to produce biopharmaceuticals. The contract amount could jump to US$222 million through future consultations.
Samsung Biologics’ order intakes in the first five months of 2020 have already crossed one trillion won. In April, it signed a 440 billion won contract with U.S. company Vir Biotechnology to produce a new coronavirus infection treatment. In addition, the company expanded its 34.5 billion won production contract with U.S. biopharmaceutical firm Immunemedics in 2018 to 184.5 billion won in April this year.
Samsung Biologics has secured the world's largest production capacity of 362,000 liters of biopharmaceuticals by establishing three plants in Songdo, Incheon.