Samsung Biologics Inks 2 New Deals Worth $668 Mn With European Pharma
Date
11/19/2024 11:00:11 PM
(MENAFN- IANS) Seoul, Nov 20 (IANS) Samsung Biologics said on Wednesday it has won two new contract manufacturing deals with a combined value of 930.4 billion won ($667.7 million) from a Europe-based biopharmaceutical firm.
The deals, set to last until the end of 2031, are valued at 752.4 billion won and 178 billion won, respectively, according to the company's regulatory filing. Other details remained undisclosed under a confidentiality agreement.
Samsung Biologics said it has secured a total of 11 deals with a combined value of 5.29 trillion won so far this year, reports Yonhap news agency.
It marks the first time the accumulated value of the company's deals surpassed the 5 trillion won mark annually.
Last year, the company sealed deals worth a combined 3.5 trillion won.
Last month, Samsung Biologics signed a deal worth $1.24 billion for contract manufacturing from an Asia-based biopharmaceutical firm.
The deal will last until the end of 2037, the company said in a regulatory filing. Other details remained undisclosed under a confidentiality agreement.
Samsung Biologics said the deal reaches almost half of the value of its combined manufacturing deals for last year at 3.5 trillion won ($2.53 billion).
The company's second-quarter net profit jumped 72 per cent from a year earlier on robust sales. Net profit reached 318 billion won ($229.8 million) in the April-June period, compared with 184.9 billion won a year ago, the company said in a regulatory filing.
Its operating income soared 71.4 per cent on-year to 434.5 billion won in the second quarter and sales increased 33.6 per cent to 1.15 trillion won.
For the first half, the company posted an operating profit of 655.8 billion won, up 47 per cent on-year, and its revenue grew 33 per cent to surpass the 2 trillion-won mark for the first time.
-IANS
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