Samsung Biologics has announced a strategic collaboration with Pfizer for the long-term commercial manufacturing of the latter’s multi-product biosimilars portfolio.
Initially, the companies signed a manufacturing agreement in March last year for a Pfizer product.
As per the new agreement terms, Samsung Biologics will provide Pfizer with more capacity for manufacturing for the biosimilars portfolio.
The portfolio will cover inflammation, oncology and immunology.
Samsung will use its new facility, Plant 4, for the products manufacturing.
Samsung Biologics president and CEO John Rim said: “We are pleased to extend the strategic collaboration with Pfizer as we share and support their strong vision to bring innovative solutions for patients around the globe.
“This new meaningful partnership comes just as our Plant 4 is fully completed early this month as we had previously committed and are on the move for future expansion into our second campus in order to provide our clients with even more flexible and advanced manufacturing technology.”
The partnership between Pfizer and Samsung Biologics is expected to significantly improve the lives of patients across the globe.
Pfizer chief global supply officer, executive vice-president Mike McDermott said: “Pfizer is excited to continue our strategic partnership with Samsung Biologics that aims to enable greater access to medicines for more patients across the world.
“This commitment is a reflection of Pfizer’s trust in the Korean Pharmaceutical industry to address emerging health challenges.”