Republicans Raise National Security Concerns Over Intel’s Testing of China-Linked Chipmaking Tools 
U.S. Dollar Steadies Near October Lows as Rate Cut Expectations Keep Markets on Edge 
U.S. Stock Futures Slip After CPI-Fueled Rally as Markets Weigh Economic Uncertainty 
Biren Technology Targets Hong Kong IPO to Raise $300 Million Amid China’s AI Chip Push 
Apple Explores India for iPhone Chip Assembly as Manufacturing Push Accelerates 
Oracle Stock Slides After Blue Owl Exit Report, Company Says Michigan Data Center Talks Remain on Track 
Asian Currencies Slip as Dollar Strengthens; Indian Rupee Rebounds on Intervention Hopes 
Instacart Stock Drops After FTC Probes AI-Based Price Discrimination Claims 
Asian Stocks Edge Higher as Tech Recovers, U.S. Economic Uncertainty Caps Gains 
Oil Prices Climb on Venezuela Blockade, Russia Sanctions Fears, and Supply Risks 
Chinese Robotaxi Stocks Rally as Tesla Boosts Autonomous Driving Optimism 
MetaX IPO Soars as China’s AI Chip Stocks Ignite Investor Frenzy 
Bank of Korea Downplays Liquidity’s Role in Weak Won and Housing Price Surge 
Gold and Silver Surge as Safe Haven Demand Rises on U.S. Economic Uncertainty 
Asian Markets Rebound as Tech Rally Lifts Wall Street, Investors Brace for BOJ Rate Hike 
Shell M&A Chief Exits After BP Takeover Proposal Rejected 
Oil Prices Rebound as Trump Orders Blockade of Sanctioned Venezuelan Tankers 
In a landmark move, Samsung Biologics and Pfizer Inc. have entered into a strategic $409 million contract manufacturing organization (CMO) agreement. This record-setting deal enlists Samsung Biologics to produce a range of biosimilar drugs originally developed by Pfizer, furthering global access to essential medicines.
The Korea Times reported that under the contract, Samsung Biologics will manufacture biosimilars made by Pfizer. These are biopharmaceutical medical products that are identical to the original product, which means the Korean biotech firm will replicate certain drugs originally made by Pfizer.
The biosimilars that Samsung Biologics will produce for the New York-based pharmaceutical and biotechnology firm include medical drugs for inflammation, tumors, and the immune system. The company built its fourth production plant in Incheon, South Korea, recently, so it is likely to be used for the fulfillment of the said CMO agreement.
“We are pleased to extend the strategic collaboration with Pfizer as we share and support their strong vision to bring innovative solutions for patients around the globe,” Samsung Biologics’ president and chief executive officer, John Rim, said in a press release. “This new meaningful partnership comes just as our Plant 4 is fully completed early this month as we had previously committed and are on the move for future expansion into our second campus in order to provide our clients with even more flexible and advanced manufacturing technology.”
Pfizer’s chief global supply officer, executive vice president, Mike Dermott, added, “Pfizer is excited to continue our strategic partnership with Samsung Biologics Ltd. that aims to enable greater access to medicines for more patients across the world. This commitment is a reflection of Pfizer’s trust in the Korean Pharmaceutical industry to address emerging health challenges.”
Meanwhile, the partnership between Samsung Biologics and Pfizer has set a new record for the latter and the entire history of biopharma in South Korea. This is because it is the largest single contract to ever be recorded in the country.
Photo by: Samsung Biologics Newsroom
