MATCH Act: How New U.S. Chip Legislation Could Freeze China's Semiconductor Ambitions 
Goldman Sachs, ANZ Cut Oil Forecasts Amid U.S.-Iran Ceasefire Hopes 
China's Inflation Data Misses Forecasts as Consumer Prices Slow in March 
U.S. Natural Gas Market Faces Short-Term Pressure but Long-Term Demand Surge 
Kia Cuts EV Sales Target for 2030 Amid Slowing Demand and U.S. Policy Shifts 
Colombia and Ecuador Trade War Escalates With Retaliatory Tariffs 
Asian Markets Retreat as Gulf Crisis Fuels Oil Surge and Inflation Fears 
Trump Claims Oil Tankers Heading to U.S. Amid Iran War and Strait of Hormuz Crisis 
Bendigo and Adelaide Bank Posts Strong Q3 Earnings, Announces AI-Driven Job Cuts 
Bank of Japan Governor Signals Accommodative Stance Amid Negative Real Rates 
Oil Prices Rebound as Hormuz Disruptions and Middle East Tensions Rattle Markets 
BHP's Incoming CEO Visits China Amid Pricing Dispute with CMRG 
China Vanke Seeks Bond Extension Amid Mounting Debt Crisis 
TSMC Posts Strong Q1 2025 Revenue, Riding AI Chip Demand Wave 
NIO ES9 SUV Launch Sends HK Shares Down 7% Despite Bold Pricing Strategy 
Disney Plans to Cut 1,000 Jobs Amid Ongoing Restructuring Efforts 
Tokyo Electric Power Attracts Major Investors Amid Billion-Dollar Restructuring Push 
Samsung Biologics Co. was revealed to have won a new CMO contract deal with Pfizer Ireland Pharmaceuticals. The order is said to be worth $183 million, which is equivalent to 15.4% of Samsung Biologic's total sales profits in 2021.
Samsung Biologics is currently the no. 1 contract drug maker in the world based on production capacity. It has bagged this huge contract manufacturing organization (CMO) order from the Ireland unit of Pfizer Inc. the deal just raised expectations that the biotech division of Samsung Group's orders for this year will reach a new record high.
As per The Korea Economic Daily, Samsung Biologics announced its new CMO order through a regulatory filing on Thursday, March 2. Although this was only revealed now, the actual order was made by Pfizer Ireland Pharmaceuticals Ringaskiddy on Feb. 28.
Then again, the biotech firm did not mention the name of the medicine that it will make for Pfizer. It was stated in the contract that the manufacturing will run from Feb. 20, 2023, to Dec. 31, 2029.
In any case, this is the first time that Samsung Biologics or any Korean company has signed a CMO deal with the New York-headquartered pharmaceutical and biotech firm. Korea Joongang Daily reported with the latest business announcement, Samsung Biologics now boasts of having seven of the world's top 10 largest pharmaceutical firms as clients.
The Korean biotech company was established in 2011, and it has started partial operation of its fourth factory in Songdo, Incheon, just recently. This facility will have the capacity to produce 240,000 liters when it goes into full operation in June. This is said to be the largest single pharma production facility in the world.
Meanwhile, Samsung Biologics is investing another KRW 7.5 trillion or about $5.7 billion to build four new plants inside a manufacturing complex near its existing plants in the Songdo region.
