Human Genome Sciences’ manufacturing facility in Rockville, Md. / Courtesy of Samsung Biologics
Contract biopharmaceutical producer Samsung Biologics has secured its first manufacturing base in america, buying the plant of Human Genome Sciences from world drug big GSK for $280 million.
Samsung Biologics mentioned Monday that its U.S. unit, Samsung Biologics America, has signed a deal to amass a 100% stake in Human Genome Sciences. The transaction is about to shut throughout the first quarter of subsequent 12 months.
Situated in Rockville, Md, the plant has an annual manufacturing capability of 60,000 liters of drug substances, supporting each medical and business manufacturing throughout a variety of scales, from small to giant.
Current merchandise will proceed to be manufactured on the website, and Samsung Biologics plans to make further investments to develop the location’s capability and improve the expertise. The corporate mentioned it’ll retain greater than 500 staff on the website to make sure operational continuity and stability.
Upon completion of the deal, Samsung Biologics could have established its first manufacturing presence on this planet’s largest pharmaceutical market. Till now, the corporate has relied completely on manufacturing services in Korea, leaving its provide chain uncovered to the Donald Trump administration’s tariff measures.
With the takeover, Samsung Biologics will be capable of present purchasers with extra versatile multi-site manufacturing choices in each the U.S. and Korea, strengthening collaboration with North American clients and enhancing its potential to answer regional adjustments within the provide atmosphere.
Samsung Biologics on Monday additionally introduced three contract manufacturing group contracts with European pharmaceutical firms price a mixed 1.22 trillion gained ($825.7 million). The contracts are believed to be current manufacturing volumes transferred together with the acquisition of the Rockville plant. By taking up each the plant and its order backlog, the corporate secured a sure degree of utilization instantly after the acquisition.
“This landmark acquisition is a testomony to our unwavering dedication to advancing world well being care and bolstering our manufacturing capabilities within the U.S.,” Samsung Biologics CEO John Rim mentioned.
“The funding will allow us to deepen our collaboration with federal, state and native stakeholders to finest serve our clients and companions whereas guaranteeing a dependable and steady provide of life-saving therapeutics.”
Samsung Biologics is at the moment able to manufacturing a complete of 785,000 liters of therapeutics at its 5 vegetation in Incheon.
