Bristol-Myers Squibb Company (NYSE:BMY) and Samsung BioLogics today announced the companies will increase the scope of their existing manufacturing agreement in which Samsung will manufacture commercial drug substances and drug product for several Bristol-Myers Squibb biologic medicines at its Incheon manufacturing site. Financial terms of the agreement are not disclosed.
Bristol-Myers Squibb and Samsung announced their first manufacturing agreement in July 2013 to collaborate in the production of a single commercial antibody cancer drug substance.
"Biologic medicines that treat serious diseases are an integral part of Bristol-Myers Squibb’s specialty care portfolio and R&D pipeline,” said Lou Schmukler, president, Global Manufacturing & Supply. “The expanded relationship with Samsung will increase our biologics manufacturing capability and give us the flexibility to respond to increased demand in order to meet the global needs of patients."
"Samsung is delighted to reach the second manufacturing agreement with Bristol-Myers Squibb and we look forward to delivering top quality GMP production," said Dr. TH Kim, president and CEO of Samsung BioLogics. “It represents another significant step for Samsung and Bristol-Myers Squibb in strengthening our biopharmaceutical manufacturing relationship.”Samsung brings global biopharmaceutical capability through its fully-integrated production facilities that offer process development, drug substance manufacturing, and drug product fill & finish services at one location. In addition to its current biologics manufacturing facility in Incheon, Korea, the company is currently building a second facility, also in Incheon, which is expected to be completed in early 2015. About Bristol-Myers Squibb Bristol-Myers Squibb is a global biopharmaceutical company whose mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases. For more information, please visit www.bms.com or follow us on Twitter at http://twitter.com/bmsnews. About Samsung BioLogics Samsung BioLogics is a global full-service provider of quality-driven contract process development and cGMP manufacturing to the global biopharmaceutical industry. Our facilities are custom designed for monoclonal & recombinant production with maximum flexibility. Our one-stop services include cell line generation, process and analytical method development, analytical services, clinical and commercial bulk cGMP manufacturing of drug substance and drug product including quality assurance, quality control, regulatory compliance standards & support for our customers. For additional information about the company, please visit http://www.samsungbiologics.com. Samsung Disclaimer This press release may contain certain forward-looking statements that reflect our current views and expectations with respect to our performance, businesses, and future events. Please understand that these statements are subject to a number of risks, uncertainties, and assumptions, any of which could cause actual results to materially differ from the plans, objectives, expectations, estimates, and intentions we express. In no event will we or any of our subsidiaries, affiliates, directors, officers, agents, or employees be liable before any third party, including investors, for any investment or business decision made or action taken based on information and statements contained in this press release or for any consequential, special, or similar damages.
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