Fact Source: Financial Supervisory Service DART
💡 3-Second Summary
Samsung Biologics announced a disclosure correction regarding a 2017 contract manufacturing agreement, significantly increasing the contract value from ~KRW 16.8B to ~KRW 250.9B while fully disclosing the counterparty (Baxter Healthcare Corporation) and the contract end date (December 31, 2034).
📊 [Key Disclosure Details & Summary Statistics]
- Disclosure Type: Correction Report (Original Disclosure Date: 2017-07-21)
- Reason for Correction: Modification of contract amount as requested by the client
- Contract Classification: Sales/Supply Contract (Contract Manufacturing Agreement for Pharmaceutical Products)
- Corrected Items:
- Contract Amount: (Before) KRW 16,810,505,600 → (After) KRW 250,866,198,800 (KRW ~250.9B) / USD 223,012,000
- Contract Ratio to Revenue: (Before) 5.71% → (After) 85.15% (Based on 2016 annual revenue of KRW 294,622,020,774)
- Counterparty: (Before) Pharmaceutical company located in the U.S. → (After) Baxter Healthcare Corporation
- Contract Period End Date: (Before) Undisclosed → (After) December 31, 2034 (Start Date: July 20, 2017)
- Non-disclosure Status: Non-disclosure lifted (Previous postponement deadline of December 31, 2025 deleted)
- Other Key Investment Matters:
- The contract amount reflects a USD 208,068,000 increase from the previously disclosed USD 14,944,000 to a confirmed USD 223,012,000, converted at the initial FX rate of USD/KRW 1,124.90 as of July 21, 2017.
- The contract end date is subject to change based on mutual agreement between both parties.
- Recent annual revenue is based on the 2016 financial statements from the original filing.
📝 Editor’s Comment (Key Follow-up Checkpoint)
📌 Tracking Revisions to Long-Term Contract Terms and Periodic Report Backlog Details
This amendment reflects a major scale-up of a long-term manufacturing agreement to approximately KRW 250.9B, along with the full release of previously undisclosed details regarding the counterparty (Baxter) and the agreement duration. Monitoring potential future adjustments to the contract amount or end date is important for understanding how this long-term supply agreement is recognized in financial performance over time. Relevant updates can be verified through subsequent disclosures or periodic reports.
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Source: This content was structured and regenerated based on official data submitted to the Financial Supervisory Service’s DART system.
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