Updated on 30 July 2013
Samsung BioLogics to make Bristol-Myers Squibb (BMS) antibody cancer drug for the next 10 years
Singapore: Bristol-Myers Squibb (BMS) and Samsung BioLogics entered into a 10-year agreement under which Samsung BioLogics will manufacture a commercial antibody cancer drug for Bristol-Myers Squibb at its recently completed plant in Songdo Incheon, South Korea.
Financial terms were not disclosed. Technology transfer and trial production will commence in July 2013 and commercial production will immediately begin following regulatory approvals.
Mr Tae-Han Kim, president and CEO, Samsung BioLogics, said that, "We are pleased to announce this strategic manufacturing relationship with Bristol-Myers Squibb and look forward to delivering best-in-class manufacturing services with the highest global quality standards. The relationship with Bristol-Myers Squibb represents the validation of our long-term commitment to the biopharmaceutical manufacturing industry."
Mr Louis Schmukler, president, Global Manufacturing & Supply, Bristol-Myers Squibb, said that, "Our agreement with Samsung is an important part of our company's overall manufacturing and supply strategy focused on creating long-term relationships with high quality manufacturing partners around the world. This agreement increases our biologic manufacturing capacity to help ensure sufficient long-term supply of our commercial products."