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| Samsung Biologics' fourth plant in Incheon / Courtesy of Samsung Biologics |
By Kim Jae-heun
Samsung Biologics has signed a 535 billion won ($409 million) contract manufacturing organization (CMO) deal with Pfizer as part of its strategic partnership for long-term consignment production of a wide range of medicines, the company official said Thursday.
Under the latest contract, the biotech company will produce Pfizer's multi-variety biosimilars, or biopharmaceutical replication drugs, including treatments for tumors, inflammation and immune system problems, at its recently built its fourth plant in Incheon.
"We are pleased to strengthen our cooperation with Pfizer, which has a vision to provide innovative solutions to patients around the world," Samsung Biologics CEO John Rim said. "We were able to ink our second contract with Pfizer as the construction of our fourth plant was completed as scheduled earlier this month. We will also accelerate the expansion of the second bio-campus to provide more flexible and advanced consignment production service to customers."
"This partnership is a good example of Pfizer's trust in the Korean pharmaceutical industry. We are pleased to continue and expand our strategic partnership with Samsung Biologics to provide better treatment options for patients worldwide," Pfizer Chief Global Supply Officer Mike McDermott said.
"Collaboration with Samsung Biologics will contribute significantly to improving patients' lives and responding to growing potential health crises," Pfizer Korea CEO Oh Dong-wook said.
Samsung Biologics is a fully integrated, end-to-end CMO service provider offering development and manufacturing solutions from cell line development to final aseptic fill/finish as well as laboratory testing services for biopharmaceutical products.
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