Novartis and Samsung ink five-year, $309M expansion to biologics manufacturing partnership
Samsung Biologics disclosed Monday that it’s significantly expanding a 2022 pact with Novartis to help with the Swiss company’s biologics manufacturing.
The original $81 million partnership from June 2022 will now be a five-year deal worth almost $391 million — a $309 million expansion.
A Novartis spokesperson said via email that the company signed a letter of intent with Samsung Biologics “to reserve the needed capacity for the manufacturing of biologics drug substances. With the agreement in place, Samsung Biologics facility in Korea would serve as an additional supply point for Europe and other markets with growing demand for Novartis biologics.”
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