[Courtesy of Samsung Biologics]
SEOUL -- Samsung Biologics, a leading bio company affiliated with South Korea's largest Samsung Group, has signed a contract worth $213 million for the consignment production of medicines with MSD, a unit of Merck & Co., an American pharmaceutical company, that operates outside the United States and Canada.
The contract followed a letter of intent signed by the two sides in September 2021, Samsung Biologics said in a regulatory filing on July 4. Details of the contract with MSD International Business GmbH headquartered in Luzern, Switzerland, were not disclosed. The South Korean company said the down payment may increase to $381.86 as customer demand increases
Samsung Biologics has expanded its biomedicine business from contract manufacturing organization (CMO) to contract development organization (CDO). CMO serves other companies to provide comprehensive services from development through manufacturing. CDO develops cell lines and production processes for the mass production of antibody-drug candidate substances developed at the laboratory level.
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