Nam Hyun-woo has worked as a staff writer at The Korea Times since 2013, mostly covering business and politics. He currently belongs to the Business Desk where he covers topics such as emerging tech, AI, ICT and Korea's chaebol community. Prior to joining the team, he was the paper's correspondent for the presidential office of Korea during the Yoon Suk Yeol and Moon Jae-in administrations.
Samsung Biologics secures over $3.6 bil. in orders so far this year
Samsung Biologics' Plant 4 in Incheon / Courtesy of Samsung Biologics
By Nam Hyun-woo
Samsung Biologics has hit the 5 trillion won ($3.67 billion) mark in its cumulative orders so far this year after adding 440.5 billion won of new contracts to its contract manufacturing backlog, the biotech firm said Monday.
In its regulatory filing, Samsung Biologics said it signed two contracts with drugmakers in Europe and Asia, worth 242 billion won and 198.5 billion won, respectively.
The contract manufacturing deals will last until the end of 2030 and 2033, respectively, and Samsung Biologics did not reveal further details, citing confidentiality agreements.
With the latest contracts, the company has secured four new contracts worth 3.25 trillion won across the United States, Asia and Europe so far this year, which account for approximately 60 percent of its total orders of 5.4 trillion won that it secured in 2024.
Samsung Biologics said the 5 trillion won mark reflects its solid growth and expansion in the global biopharmaceutical industry.
Currently, Samsung Biologics' clients include 17 out of the world's top 20 drugmakers, securing orders worth $18.2 billion since its foundation in 2011.
The company attributes its brisk operation to the industry's top manufacturing capacity and solid track record.
Samsung Biologics now operates five production plants capable of producing 784,000 liters of biopharmaceutical products every year in Songdo, Incheon, with the latest plant 5 going into commercial operation in April with a capacity of 180,000 liters a year.
The company plans to increase the number of plants to eight by 2032, aiming for an annual production capacity of 1.32 million liters.
Last week, Samsung Biologics announced a plan to spin off its wholly owned biosimilar subsidiary, Samsung Bioepis, in a move aimed at easing concerns from client drugmakers over potential conflicts of interest and enhancing the corporate value of both companies.
Though the market still remains divided on the valuation of the two companies after the spin-off, analysts are placing greater weight on its long-term positive effects.
"The move signals that Samsung Group is now fully committing to the biopharmaceutical business," Kiwoom Securities analyst Huh Hye-min said. "Samsung Biologics is expected to benefit from an improved environment for global partnership expansion."
Meanwhile, Samsung Biologics said it has been participating in major global biotech conferences this year for stronger client engagements.
Starting with the J.P. Morgan Health Care Conference in January, the company held meetings with key clients at DCAT Week 2025 in March and PEGS Boston in May. In June, the company plans to join the Bio International Convention, better known as BIO USA, to promote its manufacturing capacity and solid track record to potential clients.