Contract Counterpart Changed from Vir Biotechnology to GSK
Samsung Biologics announced on Aug. 5 that it has signed a contract manufacturing deal with GlaxoSmithKline Trading Services Limited (GSK) to produce neutralizing antibodies for the new coronavirus (COVID-19) being developed by the multinational pharmaceutical company.
The contract value is 439.4 billion won, which amounts to 63 percent of Samsung Biologics’ sales in 2019. The figure is about 9 billion won more than the original contract amount of 430 billion won specified in the letter of intent that was signed between the two in April. The contract period will run until Dec. 31, 2022.
Meanwhile, the latest deal changed the main counterpart of the contract from Vir Biotechnology in the United States to GSK.
Originally, Samsung Biologics signed a letter of intent with Vir Biotechnology in the United States. However, GSK invested in Vir Biotechnology’s discovery of antibodies to carry out joint development. As a result, Samsung Biologics changed its contract counterpart to GSK.