Samsung’s biotech duo on a roll with $1.1 bn CMO order

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Samsung’s biotech duo on a roll with $1.1 bn CMO order - Korea Economic Daily

Quick Summary:

Samsung Group is on track to rise to the top of biosimilar companies in the world and become South Korea’s largest drug maker for contract manufacturing since its foray into the biotechnology market in 2011.Samsung Biologics Co., a contract manufacturing organization (CMO), said on Tuesday it has bagged its largest-ever order worth $1.06 billion, under which it will deliver a drug product to a US pharmaceutical company by the end of 2030.

The same day, Samsung Bioepis Co.said that Pyzchiva, its biosimilar to Johnson & Johnson’s autoimmune disease treatment Stelara, has won the US Food and Drug Administration (FDA) approval, becoming its seventh biosimilar getting the nod from the FDA.

If the biosimilar, dubbed Epysqli, gets the greenlight from the US drug authorities as a rare blood disorder treatment, Samsung will leap to the top of biosimilar makers in the world with the largest number of FDA approvals.