Samsung Biologics (a global CDMO) and an Asian pharmaceuticals company have signed a manufacturing contract deal which will run until December 2037. The disclosed deal, worth $1.24 billion, is reportedly the largest contract signed by a single client. Production will take place at Samsung Biologics’ biomanufacturing site in Songdo, South Korea.

Samsung Biologics continues to expand business across key regions, including Japan, where it plans to open a regional office in Tokyo. The company already partners with 17 of the world’s top 20 pharmaceutical companies; with this newest partnership, the company’s accumulated contract for 2024 surpasses $ 3.3 billion.