Seoul: Samsung Biologics Co., South Korea's leading biotech firm, announced that it has secured a 1.8 trillion-won (US$1.29 billion) contract to provide manufacturing services for a U.S. pharmaceutical company through 2029. This significant deal highlights Samsung Biologics' expanding influence in the biotech industry and its ability to cater to global client demands.

According to Yonhap News Agency, the new agreement boosts Samsung Biologics' cumulative contract manufacturing value to more than US$3.6 billion this year. While the name of the U.S. pharmaceutical company involved in the deal has not been disclosed, Samsung Biologics emphasizes its strategy of securing substantial contracts by adapting to the needs of its clients across Asia, Europe, and the United States.

The company maintains partnerships with 17 of the world's top 20 pharmaceutical firms and continues to extend contracts with existing clients to support the development of new therapies. This strategy has been pivotal in securing new deals and expanding its global footprint.

Samsung Biologics operates five biopharmaceutical plants in Songdo, just west of Seoul, with plans to complete an additional three facilities by 2032. The current plants boast a combined annual capacity of 784,000 liters, which is set to increase to 1.324 million liters once the new facilities are operational.

In financial terms, Samsung Biologics reported a 47 percent year-on-year increase in its operating profit for the first half of this year, reaching 962.29 billion won. The company's revenue also rose by 23 percent from the previous year, amounting to 2.59 trillion won, underscoring its strong performance and growth trajectory in the biopharmaceutical sector.