Baxter Healthcare will pay Samsung Biologics an extra $208 million to manufacture certain drug products until the end of 2034 in a revised manufacturing contract.
This is at least the third agreement that the South Korean manufacturer has revised in the past three months, having updated previous deals with Eli Lilly and Merck.
Samsung Bio and Baxter initially inked a $15 million contract in July 2017 and the revised agreement would bring the total up to $223 million, according to Samsung Bio’s public disclosure posted Tuesday.
On May 8, Samsung Bio also said it had revised its original contract with Eli Lilly, extending the agreement until the end of 2029 with Lilly paying an extra $210 million. The original contract was worth $269 million, which brings the contract value up to $479 million.
Meanwhile, on April 8, Merck and Samsung Bio also revised their $71 million supply agreement made on March 12, according to a Samsung Bio disclosure. The updated contract brings its value up to $188 million and would conclude at the end of 2032.
Samsung Bio has been making moves to expand its manufacturing footprint. A separate antibody-drug conjugate facility is anticipated to be operational sometime this year and Plant 5 in April 2025.
The manufacturer’s Plant 4 and biosimilar business have been raking in revenue for Samsung Bio, both largely contributing to its 31% revenue increase in the first quarter of this year.
In 2023, the company also revised its deal with Bristol Myers Squibb, bringing the total to $271 million from the original $242 million with the contract ending in 2030. In June 2023, Samsung inked a new deal with Pfizer worth $411 million.