Samsung Biologics, a contract development and manufacturing organization (CDMO), has signed a $1.06 billion manufacturing agreement with an undisclosed U.S.-based pharmaceutical company following a letter of intent (LOI) signed in June of last year.

The product has not been disclosed. The contract period extends until December 31, 2030.

Last June, Samsung Biologics reported plans to have its new fifth plant operational by April 2025. On June 1, the company fully completed its latest and the world’s largest biomanufacturing plant, Plant 4. The new plant will add a capacity of 180,000 liters, and upon completion, Samsung Biologics will maintain the world’s largest biomanufacturing capacity at 784,000 liters.

Plant 5’s key features also include process integration and optimization as well as advanced automation to deliver high productivity and quality throughout its operations.

The company is also constructing a dedicated production facility for Antibody-Drug Conjugates (ADC). This facility is planned to be operational by the end of the year.