Samsung Biologics signs contracts with Pfizer for $897 million – Kommersant
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Samsung Biologics (a division of the Samsung Group engaged in the production of drugs for pharmaceutical companies) disclosed details of the strategic agreement signed with Pfizer a month ago. From the documents of the Korean manufacturer, it follows that he signed two contracts with an American company for a total of $ 897 million.
The agreements provide for the production of a number of drugs for Pfizer Ireland Pharmaceuticals at the new Samsung Biologics plant in South Korea. The contracts entered into force on June 30 and will be valid until the end of 2029.
Including these contracts, the total amount of Samsung Biologics orders from Pfizer this year reached $1.08 billion, which is already more than in the whole of last year.
At the beginning of June Samsung announced about a long-term strategic partnership with Pfizer, in which the South Korean company will produce biosimilars for the American company, covering oncological, immunological and inflammatory diseases.
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