AstraZeneca and Samsung Biologics to Enter into Long-Term Supply Agreement for Up to $545.6 Million

AstraZeneca and Samsung Biologics announced on Sept. 22, 2020 that they are entering into a long-term supply agreement for up to $545.6 million.

Under the terms of the agreement, Samsung will offer large-scale commercial manufacturing for drug substance and drug products in support of AstraZeneca’s biologics therapeutics capabilities in the Asia-Pacific region, a Samsung press release said. The deal will start off at $330.8 million with the potential to be increased to $545.6 million.

“This long-term partnership with Samsung Biologics strengthens our manufacturing capabilities, and ensures we are well-positioned to continue to deliver our exciting portfolio of new and established biologics medicines to patients with quality, speed, and efficiency,” said Pam Cheng, executive vice-president, Global Operations and IT, AstraZeneca, in the press release.

“We are very proud to partner with AstraZeneca, a company that uses a rich history of science-led innovation to serve patients,” added Dr. Tae Han Kim, CEO of Samsung Biologics, in the press release. “At Samsung Biologics, our people share this common purpose to help our clients bring innovative solutions to an array of diseases, and we look forward to delivering on our promise to aid in AstraZeneca’s ongoing expansion program.”

Source: Samsung​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​