Fact Source: Financial Supervisory Service DART / 2024-12-18
Disclosure Type: Execution of Single Sales/Supply Contract (Amendment)
💡 3-Second Summary
SAMSUNG BIOLOGICS has amended its 2019 biopharmaceutical contract manufacturing agreement with a U.S.-based pharmaceutical firm, extending the contract expiration and confidentiality deadline to December 31, 2026, at the customer’s request.
📊 1. [Key Disclosure Content & Major Figures Summary]
- Reason for Amendment: Extension of the contract period at the customer’s request.
- Amendments Made (Data Integrity Verification):
- Contract Period Expiration: Changed from December 31, 2024 to December 31, 2026
- Confidentiality Deadline: Changed from December 31, 2024 to December 31, 2026
- Other Important Investment Considerations: The clause stating ‘the minimum guaranteed contract amount may increase to USD 83,878,800 upon customer demand increase’ has been deleted. The counterparty disclosure date has been updated to after December 31, 2026.
- Core Contract Details:
- Title: Contract Manufacturing Agreement for Pharmaceuticals
- Counterparty: A pharmaceutical company located in the United States (Identity withheld until December 31, 2026, due to operational confidentiality).
- Contract Value: KRW 68,697,863,520 (Total: USD 58,198,800, which reflects a previous cumulative increase of USD 11,440,800 from the initial minimum guarantee of USD 46,758,000).
- Applied Exchange Rate: Fixed at the initial base rate of USD/KRW 1,180.40 as of December 3, 2019.
- Ratio to Revenue at Initial Filing: 12.82% (Compared against the respective fiscal year 2018 revenue of KRW 535,805,801,067).
- Key Timeline: Initial contract and filing date: December 3, 2019 / Amendment Filing Date: December 18, 2024.
- Regulatory Note: The contract period expiration date remains subject to change upon mutual agreement between both parties.
📈 2. [Expert Insight: What This Disclosure Means for Investors]
This amendment filing, submitted on December 18, 2024, primarily updates the contract duration and confidentiality deadline of the previously disclosed 2019 manufacturing agreement, ensuring data alignment within the public registry.
The primary fundamental point is that the underlying contract metrics remain unchanged during this specific reporting cycle. The total contract value continues to be maintained at the previously confirmed KRW 68.7B (USD 58.20M), and data validation shows that the ratio to historic revenue remains matched at 12.82%.
Simultaneously, the amendment updates the confidentiality deadline to December 31, 2026, while reflecting the removal of a previously disclosed conditional expansion clause. Because the filing does not detail any qualitative causes beyond the customer’s request for changing the duration, the contract process remains subject to future definitive disclosures. Rather than making speculative assumptions, market participants should track whether the manufacturing progress matches the updated timeline through December 31, 2026.
📝 Editor’s Comment (by K-STOCK Editor)
SAMSUNG BIOLOGICS has processed an administrative amendment to its 2019 U.S. CMO contract ledger. According to the document filed on December 18, 2024, the contract value remains at approximately KRW 68.7B, and the confidentiality mask regarding the counterparty’s identity has been shifted to December 31, 2026.
For international investors, this amendment constitutes a mechanical alignment of disclosure parameters rather than a new immediate operational driver or a fresh price adjustment. The significance is strictly restricted to the extension of the contract duration and the corresponding confidentiality period as requested by the client. The exchange rate from the initial disclosure date in 2019 (1,180.40) is applied continuously as stated in the filing. Crucially, the modification reflects the removal of a previously disclosed conditional expansion clause. Market participants should monitor subsequent official announcements based strictly on verified data while final execution paths remain open.
📢 Disclaimer and Source Information
Source: This content was newly structured and written based on official data submitted to the Financial Supervisory Service’s Electronic Disclosure System (DART).
Investment Risk Notice: This information is provided solely for informational and linguistic reference purposes. Under no circumstances does it constitute financial advice or a recommendation to buy or sell specific stocks. All investment decisions and financial responsibilities rest entirely with the investor.
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