US-Iran War: Trump Eyes Military Exit as Markets React to Potential De-escalation 
Gold Prices Extend Losing Streak, On Track for Worst Weekly Loss Since 1983 
Asian Markets Mixed as Oil Volatility and Inflation Fears Weigh on Sentiment 
Goldman Sachs Raises ECB Rate Hike Forecast Amid Persistent Energy-Driven Inflation 
J.P. Morgan Now Expects Two ECB Rate Hikes Amid Inflation Pressures 
Asian Currencies Slide as Oil Prices Surge Amid U.S.-Israel-Iran Conflict 
U.S. Markets Post Fourth Straight Weekly Loss Amid Middle East Escalation 
Tesla Eyes $2.9 Billion in Chinese Solar Equipment to Power 100 GW U.S. Manufacturing Push 
Federal Reserve Crisis: DOJ Standoff Threatens Powell's Succession and Rate Stability 
Amazon's "Transformer" Phone: Can It Succeed Where Fire Phone Failed? 
Goldman Sachs Delays Bank of England Rate Cut Forecast Amid Middle East Inflation Risks 
South Korean Stocks Tumble as Hawkish BOK Governor Appointment Rattles Markets 
Palantir's Maven AI Earns Pentagon "Program of Record" Status, Reshaping Military AI Strategy 
Gold Prices Drop Amid Inflation Fears and U.S.-Iran Escalation 
Goldman Sachs Raises Oil Price Forecasts Amid Strait of Hormuz Disruptions 
EA's $15B Debt Offering Draws $25B in Investor Demand Amid Credit Market Turmoil 
U.S. Stock Futures Slide as Iran Conflict and Inflation Fears Rattle Wall Street 
Samsung Biologics and TG Therapeutics will continue working together as they just renewed their drug manufacturing deal. The contract will allow the South Korean biotechnology firm to produce more drugs for the US-based healthcare company.
The expansion of Samsung Biologics and TG Therapeutics CMO deal
As per The Korea Times, the two companies agreed to sign another deal for the supply of Ublituximab, an investigational monoclonal antibody drug for the treatment of multiple sclerosis. The new contract manufacturing organization (CMO) deal is worth $50.3 million, which is more than double of their previous deal that was only priced at $22.4 million.
This is Samsung Biologics and TG Therapeutics fourth partnership since they teamed up in February 2018. All of their first three contracts were also for the production and supply of Ublituximab.
“We are very glad to be able to flexibly accommodate our client’s expanded needs through our facilities,” Samsung Biologics chief executive officer, John Rim, said in a press release. “By supporting TG Therapeutics in this partnership, we are contributing to bringing needed treatments to patients around the world and getting a step closer to our vision of bringing about a better life for humanity.”
Looking forward to the success of the Ublituximab drug
TG Therapeutics has been developing Ublituximab for a while now, and the company already requested for biologics license by submitting an application to the U.S. Food and Drug Administration (FDA). The said drug is in the third phase of testing, so it is crucial for the license to be approved.
In any case, Samsung Biologics mainly provides manufacturing, development, and testing services to its clients. The company helps them meet the demand through CMO deals, and as it continues to receive new contracts, it is now building its fourth manufacturing plant in Incheon, and so far, this will be the Samsung Biologics’ largest facility.
Meanwhile, once TG Therapeutics finally received its license and its drug development for Ublituximab is successful, Samsung Biologics is reportedly guaranteed a minimum contract worth $278.1 million. This price can potentially go up to $345.6 million if the American healthcare firm makes more drugs.
"Samsung is the global leader in biologics manufacturing and we are happy to have them as our partner as we look forward to the potential commercialization of Ublituximab across both oncology and autoimmune indications," Michael S. Weiss, TG Therapeutics CEO, said.
