Amgen sues Samsung biotech unit over bone drug copies
INCHEON, South Korea, Aug. 6, 2024 /PRNewswire/ -- Samsung Biologics (KRX: 207940.KS), a global contract development and manufacturing organization (CDMO), announced today that the company has joined the Pharmaceutical Supply Chain Initiative (PSCI) as a Supplier Partner.
Korean CDMO juggernaut Samsung Biologics continued its sales surge in the second quarter, with its biosimilars unit, Samsung Bioepis, doing much of the heavy lifting.
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On a revised dealmaking spree this year, Korea’s Samsung Biologics is re-tooling its long-running drug manufacturing pact with Baxter Healthcare. nnThe retooled deal, first established back in July of 2017, will now see Baxter pay Samsung upwards of $223 million for its manufacturing services through end of 2034. Previously, Baxter was on the hook to pay just $15 million for Samsung’s production assistance.
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Samsung Biologics, the giant South Korea-based CDMO, reported an all-time earnings high in the first quarter of this year.
The CDMO said that the facility was key in its first-quarter gains and will continue to be for the rest of the year. Although the South Korean company did not break down its revenue by facility, it said on Wednesday that much of its Q1 earnings at 946.9 billion Korean won ($690 million) were due to Plant 4 and its biosimilar business — a 31% increase from the 720.9 billion Korean won ($525 million) it reported in Q1 last year.