On September 18th, Samsung Biologics, under the leadership of John Rim, unveiled a substantial contract valued at approximately $242 million for contract manufacturing (CMO) with Bristol Myers Squibb (BMS).

The cornerstone of this agreement centers around the production of immunotherapy drugs by BMS subsidiary Swords Laboratories, a commitment that extends until 2030. This production endeavor will be hosted at Samsung Biologics' recently operationalized fourth factory, which commenced operations in June. The contract's significance lies in the fourth factory's pivotal role as the primary production hub for BMS's flagship immunotherapy drugs over the next seven years, as highlighted by the company.

This latest pact marks the continuation of a partnership initiated in 2013 when BMS first engaged with Samsung Biologics during the launch of their initial factory. Their collaboration has now spanned almost a decade, encompassing multiple additional contracts to expand the range of products and services offered.

With the addition of this new contract, Samsung Biologics' cumulative annual order volume has surged to an impressive $2.03 billion (2.7 trillion won). This milestone owes much to the substantial orders received from prominent global pharmaceutical giants such as Pfizer and Novartis. Consequently, the annual cumulative order volume for the company now stands at $2.26 billion (3 trillion won).

To adeptly handle the ongoing surge in overseas orders, Samsung Biologics remains committed to proactively bolstering its production capacity. The fourth factory, currently in operation, has propelled Samsung Biologics' total production capacity to a formidable 604,000 liters, solidifying its dominant presence on the global stage. Moreover, construction for the fifth factory commenced in April, with expectations set for its completion in 2025. Upon its inauguration, this fifth facility is poised to elevate the company's total production capacity to an impressive 784,000 liters, further cementing Samsung Biologics' industry leadership.