Samsung Biologics Co.’s contract manufacturing deal with Swiss pharma company Roche has helped the Korean CMO giant already meet 65 percent of last year’s total sales after the Roche nearly doubled its order to $403.85 million just a day after it revised up the deal value by six times the initial amount.
Samsung Biologics said in a revised regulatory filing on Tuesday that its CMO deal with Roche has changed again from $212.85 million to $403.85 million in value. The change follows the company’s previous filing for correction on Monday that their contract value was up from original $35.53 million to $212.85 million.
The two signed a letter of intent in June last year for contract manufacturing and then closed a definitive agreement worth $35.53 million on January 15 this year. The contract value snowballed from $35.53 million to $212.85 million in about eight months and then to $403.85 million, which accounts for nearly 65 percent of Samsung Biologics’ total sales last year.
The latest deal remains effective until December 31, 2024. Samsung Biologics has so far received over $7 billion worth of orders from CMO customers this year.
By Minu Kim
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