Samsung Biologics to acquire PolyPeptide for $1.8 bil.
Swiss acquisition expands portfolio beyond antibodies, ADCs
The headquarters of Samsung Biologics in Songdo, Incheon / Courtesy of Samsung Biologics
Samsung Biologics said Monday it will acquire Swiss peptide drug manufacturer PolyPeptide Group through an all-cash public tender offer valued at approximately 1.46 billion Swiss francs ($1.8 billion), marking its largest overseas acquisition as it expands beyond antibody manufacturing into peptide therapeutics.
Samsung Biologics CEO John Rim
The Korean contract development and manufacturing organization (CDMO) will offer 44.31 Swiss francs per share for all outstanding shares of PolyPeptide, representing a 40 percent premium to the company's unaffected closing price before acquisition rumors emerged in April.
The transaction, expected to close toward the end of 2026, is subject to shareholder approval, regulatory clearances and other customary conditions. Samsung Biologics must secure at least a two-thirds acceptance rate from shareholders. PolyPeptide's largest shareholder, which owns about 55.7 percent of the company, has already agreed to tender its stake.
PolyPeptide's board of directors unanimously recommended that shareholders accept the offer, saying the acquisition provides an attractive outcome for investors while positioning the company for its next stage of growth.
The acquisition significantly broadens Samsung Biologics' manufacturing portfolio by adding peptide-based active pharmaceutical ingredients, a rapidly expanding market fueled by soaring demand for obesity and diabetes treatments, including GLP-1 therapies.
The company said combining its large-scale biologics manufacturing capabilities with PolyPeptide's expertise will create an end-to-end multimodality CDMO platform spanning antibodies, antibody-drug conjugates (ADCs) and peptide therapeutics.
Founded more than 70 years ago, PolyPeptide is one of the world's leading peptide CDMOs. The company has produced more than 1,000 therapeutic peptides and operates research, development and commercial manufacturing facilities in Sweden, Belgium, France, the United States and India, with its headquarters in Switzerland.
Samsung Biologics said the acquisition will also strengthen its global manufacturing footprint and enhance its ability to serve pharmaceutical customers across major markets.
"The acquisition reinforces our long-term growth strategy by broadening our service portfolio into peptides, including GLP-1 therapies, while further expanding our geographic reach across the United States, Europe and India," Samsung Biologics CEO John Rim said.
He added that PolyPeptide's technology, experienced workforce and global operations would complement Samsung Biologics' existing capabilities and strengthen its position as a global multimodality CDMO.
PolyPeptide Chairman Peter Wilden described the deal as a transformational opportunity that would accelerate the Swiss company's long-term growth while delivering immediate value to shareholders.
Samsung Biologics plans to launch the formal tender offer by the end of August, following procedures required under Swiss takeover law. After completing the acquisition, the company intends to buy out remaining minority shareholders and delist PolyPeptide from the SIX Swiss Exchange, making it a wholly owned subsidiary.
J.P. Morgan is serving as Samsung Biologics' exclusive financial adviser on the transaction.