Friday, May 22, 2020
GlaxoSmithKline plc and Samsung Biologics (207940.KS) have entered into a partnership to provide GSK with additional capacity to manufacture and supply GSK's innovative biopharmaceutical therapies.
Under the terms of the agreement, Samsung Biologics will provide GSK with additional capacity for large-scale biopharmaceutical product manufacturing. This capacity will be flexible depending on GSK's future needs and will supplement GSK's existing manufacturing network.
Regis Simard, President, Pharmaceuticals Supply Chain, GSK, said, "Today's agreement with Samsung Biologics complements and reinforces our existing world-class pharmaceutical manufacturing capability and will help ensure we can continue to deliver the transformative medicines that patients need."
"We are very proud and excited to announce this long-term agreement with GSK," said Dr. Tae Han Kim, CEO of Samsung Biologics. "Samsung Biologics entered the biopharma industry with the goal to help our clients bring valuable biological medicines to patients faster. We are thrilled to partner with GSK, a company who shares the vision."
The agreement is worth more than $231 million USD over the next eight years. It will initially cover commercial production of Benlysta (belimumab), with technology transfer starting in 2020 and first commercial supply expected in 2022. The intention is to expand to additional specialty-care products in the future.