Baxter Healthcare Ltd

Samsung Biologics has so far secured at least five major contracts this year, and its latest with an unnamed Asia-based pharmaceutical company is its largest ever, worth $1.24 billion. The new contract will run until December 2037, and the South Korean manufacturer will make the client’s products at its factory in Songdo. Samsung Bio added it is also planning to set up an office in Tokyo to “further enhance relationships” with its customers, according to a Tuesday release . This new deal brings Samsung Bio’s total contract value to over $3.3 billion for 2024, the company said. In July, the manufacturer announced a new deal worth 1.46 trillion won ($1.06 billion) with an unnamed US customer. And in June, Samsung Bio and Baxter Healthcare extended their partnership with an extra $208 million, up from the original $15 million deal dating back to 2017. The manufacturer has also extended contracts with Eli Lilly and Merck this year. Samsung Bio has been busy building facilities in its home country. The company is betting on ADCs with a new facility slated to finish construction by the end of the year. It is also building another factory , dubbed Plant 5, which will be operational in April 2025. Alongside its biosimilar business, its most recent facility, named Plant 4, has been critical in boosting sales.

CLEVELAND, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Sotera Health Company (Nasdaq: SHC), a leading global provider of mission-critical end-to-end sterilization solutions and lab testing and advisory services for the healthcare industry, announced today it has appointed Christopher Simon as a new independent director to its Board of Directors. Mr. Simon will serve as a member of the Leadership Development and Compensation Committee of the Board of Directors. For approximately the past eight years, Mr. Simon has served as the President and Chief Executive Officer of Haemonetics Corporation (NYSE: HAE), a global medical technology company, as well as a member of Haemonetics’ Board of Directors. Previously, Mr. Simon served as a Senior Partner of McKinsey & Company, a strategy and management consulting firm, where he led the Global Medical Products Practice. Prior to his career at McKinsey & Company, Mr. Simon served in commercial and operating roles at Baxter Healthcare Corporation, now Baxter International Inc., a healthcare company, and as a U.S. Army Infantry Officer in Korea and with the 1st Ranger Battalion. He brings more than 30 years of experience in helping businesses transform and grow. “We are excited to welcome Chris to our Board of Directors,” said Michael B. Petras, Jr., Chairman and Chief Executive Officer of Sotera Health. “Chris’s leadership experience as a public company CEO and his extensive commercial and strategic experience in the life sciences industry will serve as tremendous assets as we continue to grow.” Mr. Simon also currently serves on the board of directors of AdvaMed, a global trade association of companies that develop, produce, manufacture and market medical technologies. Mr. Simon earned a Bachelor of Science in Economics from The Wharton School at the University of Pennsylvania and an MBA from Harvard Business School. About Sotera HealthSotera Health Company is a leading global provider of mission-critical end-to-end sterilization solutions and lab testing and advisory services for the healthcare industry. Sotera Health goes to market through three businesses – Sterigenics®, Nordion® and Nelson Labs®. Sotera Health is committed to its mission, Safeguarding Global Health®. Contacts Jason PetersonVice President Investor Relations & Treasurer, Sotera HealthIR@soterahealth.com Kristin GibbsChief Marketing Officer, Sotera Healthkgibbs@soterahealth.com Source: Sotera Health Company

On July 2nd, Samsung Biologics solemnly announced that the company has successfully reached a strategic partnership agreement worth 14.6 trillion KRW (approximately $10.6 billion) with an anonymous American pharmaceutical giant. The agreement will last until 2030. According to a report from the Korea JoongAng Daily, while Samsung Biologics only revealed that the partner company's headquarters is located in the United States, the specific company name and details of the collaboration remain confidential due to strict non-disclosure clauses. The specific obligations and responsibilities of the contract, as well as the detailed timeline, are currently kept under wraps. However, it is reported that Samsung Biologics and the pharmaceutical company initially reached a collaboration agreement in early June 2023, and as the transaction scale expanded, Samsung Biologics also submitted revised disclosure documents.   This transaction is not only the most significant collaboration project for Samsung Biologics since its establishment in 2011, but also the seventh contract the company has secured this year, with a cumulative total value of an astounding $1.8 billion. The signing of this new contract has undoubtedly brought a remarkable victory for this South Korean pharmaceutical giant, accounting for nearly 40% of the company's total sales in 2023. Looking back on 2023, Samsung Biologics' total revenue reached 36,946 billion KRW (approximately $27.64 billion), a year-on-year increase of 23.1%. Meanwhile, its full-year combined operating profit also reached 11,137 billion KRW (approximately $8.33 billion), a year-on-year increase of 13.2%.   Even in the midst of an industry-wide downturn in the biopharmaceutical sector last year, Samsung Biologics remained stable and became one of the few CDMO companies that continued to be profitable. This achievement is primarily attributed to the steady growth in the number of partnerships with the top 20 global pharmaceutical companies, increasing from 12 in 2022 to 14 in 2023, and the company has entered into multiple large-scale transactions with international giants such as Pfizer, Novartis, GSK, and BMS, with a total contract value exceeding $12 billion.   Since last year, Samsung Biologics has been inundated with orders in the CDMO field and frequently garnered the favor of renowned international pharmaceutical companies. In June 2024, Samsung Biologics' collaboration with Baxter Healthcare deepened further, receiving an additional $208 million in funding support to bolster its drug production. In May 2024, Samsung Biologics announced the revision of its contract with Eli Lilly, extending the agreement period to the end of 2029 and securing an additional $210 million in funding support. The original contract value was $269 million, and after the revision, the total contract amount reached $479 million.   Furthermore, Samsung Biologics has achieved significant results in its collaborations with other international pharmaceutical companies. The partnership agreement with Merck was revised in April, resulting in a total order value of $188 million, with the contract set to expire at the end of 2032. In September last year, Samsung Biologics signed a $242 million production contract with Swords Laboratories, a subsidiary of Bristol-Myers Squibb, for the manufacture of an antibody-based anti-cancer drug at its latest and largest Line 4 facility. In the same month, Samsung Biologics also entered into a nearly $391 million, 5-year production and supply agreement with Novartis, focusing on the manufacture of active pharmaceutical ingredients, covering the period from 2024 to 2028.   It is worth noting that in July 2023, Samsung Biologics reached two major agreements worth a total of $897 million with Pfizer, including a $704 million contract and a $193 million order, which is a follow-up to the transaction announced in March this year. Moreover, in June this year, Samsung Biologics also signed a long-term cooperation agreement with Pfizer worth $411.3 million for pharmaceutical manufacturing. Although the parties did not disclose the specific duration of the "long-term" contract, this collaboration will undoubtedly further consolidate Samsung Biologics' leading position in the global CDMO (Contract Development and Manufacturing Organization) field.   As the number of contracts continues to increase, Samsung Biologics has been actively expanding its production scale to meet the growing market demand. Currently, the company has four operating factories with a total production capacity of 604,000 liters. The fifth factory is expected to be put into operation in April 2025, which will add an additional 180,000 liters of capacity. Furthermore, by 2032, Samsung Biologics plans to fully build the second bio-complex, which will house the fifth production plant as well as two additional production plants, bringing the total capacity to an additional 720KL.   However, Samsung Biologics' ambitions go far beyond this. In addition to deepening its presence in the traditional antibody drug market, the company is also actively expanding into the ADC (Antibody-Drug Conjugate) field. In April last year, Samsung Biologics made a strategic investment in the ADC biotechnology company Araris biotech, marking its official entry into the ADC field. In September of the same year, Samsung Biologics made another move, investing in the equity of the Korean biotechnology company Aimd Bio, which has a rich ADC pipeline. These investment initiatives not only laid a solid foundation for Samsung Biologics' development in the ADC field, but also provided new momentum for its future growth.   Currently, the global CDMO industry is experiencing a golden development period driven by a new wave of pharmaceutical research and development. According to Frost & Sullivan, the global CDMO market size is expected to reach $90.6 billion in 2023, while the Chinese CDMO market size is also expected to reach 95.3 billion RMB. The accelerated development of Samsung Biologics may foreshadow an intense competition and reshuffling in the global biopharmaceutical market. Faced with this trend and challenge, how domestic CDMO companies can compete with international giants like Samsung Biologics on the international stage and maintain their own market position has become an important issue at hand.