Samsung Biologics' third plant in Songdo, Incheon Samsung Biologics signed a $390.9 million biomanufacturing deal with Novartis Pharma, the Incheon-based pharma manufacturer said Monday. With this latest contract manufacturing organization (CMO) deal, Samsung Biologics' contract value so far this year reached 2.34 trillion won ($1.79 billion), surpassing its previous record of $1.66 billion won in 2020. CMOs refer to companies that provide drug manufacturing services on a contract basis. The five-year deal with Novartis, a Swiss pharmaceutical company, followed a letter of intent signed in June last year, according to Samsung Biologics' regulatory filing on Monday.

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