Samsung Biologics Co Ltd said it would continue its partnership with AstraZeneca Plc (NASDAQ: AZN) on manufacturing biopharmaceuticals.
Samsung Biologics Co Ltd said it would continue its partnership with AstraZeneca Plc (NASDAQ:AZN) on manufacturing biopharmaceuticals.
- According to Samsung, the production of drug substances and drug products is valued at about $380 million, up from the initial $331 million after the companies expanded the deal in May 2021.
- Samsung Biologics said it would start to manufacture a cancer immunotherapy product from next year along with AstraZeneca's COVID-19 long-acting antibody (LAAB) combination, AZD7442.
- Related Link: AstraZeneca's COVID-19 Therapy Wins FDA Approval As First Antibody To Prevent Infection In Immunocompromised.
- Samsung Biologics CEO John Rim said, "We are delighted to continue expanding our strategic collaboration with AstraZeneca, a valuable partner we have witnessed first-hand to have a strong commitment to saving lives of patients."
- Samsung Biologics is building an additional facility, Plant 4, upon completion of which will allow it to hold the world's largest biomanufacturing capacity of 620,000L.
- It has also added a messenger RNA vaccine drug substance manufacturing suite to the current facility in Songdo, ready for operations within the earlier part of the year in 2022.
- Price Action: AZN shares are up 0.59% at $54.90 during the premarket session on the last check Tuesday.