Samsung Biologics, AstraZeneca expand tie-up to include COVID-19 and cancer therapy

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AstraZeneca

Samsung Biologics, AstraZeneca expand tie-up to include COVID-19 and cancer therapy

(Reuters) – Samsung Biologics Co Ltd (207940.KS) said on Monday it would continue its partnership with AstraZeneca Plc (AZN.L) on manufacturing biopharmaceuticals.

Samsung said production of drug substance and drug product is valued at about $380 million, up from the initial $331 million after the companies expanded the deal this year in May 2021.

The logo for AstraZeneca is seen outside its North America headquarters in Wilmington, Delaware, U.S., March 22, 2021. REUTERS/Rachel Wisniewski/File Photo

The company said it would start to manufacture a cancer immunotherapy product from next year along with AstraZeneca’s COVID-19 long-acting antibody (LAAB) combination, AZD7442.

Samsung Biologics CEO John Rim said, “We are delighted to continue expanding our strategic collaboration with AstraZeneca, a valuable partner we have witnessed first-hand to have a strong commitment to saving lives of patients”.

Reporting by Mrinmay Dey in Bengaluru; Editing by Rashmi Aich

Our Standards: The Thomson Reuters Trust Principles.

Reuters source:

https://www.reuters.com/markets/deals/samsung-biologics-astrazeneca-expand-tie-up-include-covid-19-cancer-therapy-2021-12-14