Novartis & Samsung Forge Five-Year🔬 Big news in biopharmaceuticals! Samsung Biologics is expanding its collaboration with Novartis to enhance their biologics manufacturing capabilities. The initial $81 million partnership has now grown into a five-year agreement worth nearly $391 million, marking a remarkable $309 million expansion. 🚀
Over the past two years, the Ohio-based gene therapy manufacturer Forge Biologics has managed to get a large amount of capital to scale up its AAV production capabilities. And as the field continues to grow, the company looks to grow along with it.
Novartis & Samsung Forge Five-Year With a letter of intent signed, Novartis aims to secure the necessary manufacturing capacity for biologics drug substances. Samsung Biologics’ cutting-edge facility in Korea will serve as an additional supply hub for Europe and other markets with a rising demand for Novartis biologics. 🏭🌍
Starting from 2024 until 2028, the focus of this five-year manufacturing and supply agreement will be on drug substance production. Samsung’s Korea-based facilities will play a crucial role in meeting the growing demand for Novartis biologics, providing additional supply capabilities to various markets. 🌱✨
In November 2020, Samsung embarked on the construction of the world’s largest biopharmaceutical manufacturing facility in Incheon. Spanning approximately 2.5 million square feet, this remarkable $2 billion “superplant” began partial operations last year, contributing 240,000 liters of capacity. Consequently, Samsung’s overall manufacturing capacity now totals 604,000 liters. 🏭💡
