Biologics CDMO (world's largest)
Samsung Biologics
The world's largest biologics CDMO, contract-manufacturing (CMO) drugs and developing cell lines and processes (CDO) for global pharma. It runs five Songdo plants totaling 785,000 liters; revenue is mostly from European (52%) and US (38%) customers. In 2025 it spun off Samsung Bioepis to become a pure-play CDMO.
207940.KS Updated Sep 11, 2026 4 AI consumers· 2 recurring
Per the valuechain.wiki graph, Samsung Biologics is directly linked to 6 companies (3 supply, 5 revenue relationships) and reaches 11 companies within two hops; the links are backed by 10 dated sources, 2 of them primary filings (as of 2026-09-11).
Financials & Segments
- Total revenue · Product (CMO) 95.6%, service (CDO) 4.4%; Europe 52%, US 38%, Korea 8.2%
- Segments · CMO manufacturing (785kL, 5 plants) · CDO development (cell line, process)
Revenue from
- 글로벌 빅파마 (CMO 위탁생산, 지역 익명) High confidence· Amount 2,074,700,000,000원 · 최대 CMO 계약(미국 제약사) · region-anonymized; $21.4B cumulative
Contract-manufactures biologics for global pharma; counterparties are region-only disclosed under confidentiality (with set reveal dates). 2024-25 megadeals: US pharma at KRW 2.07tn, 1.80tn and 1.46tn, an Asia pharma at KRW 1.70tn, a Europe pharma at KRW 0.93tn. Revenue split Europe 52%, US 38%. Cumulative orders ~$21.4B (112 CMO, 169 CDO).Confirms EN Reuters Published Jan 22, 2026: Samsung Biologics posts record CDMO orders, spins off Bioepis - 글로벌 빅파마 (CMO·CDO 위탁생산) High confidence· Amount $21.4B · 누적 수주 · 112 CMO, 169 CDO deals
The world's largest biologics CDMO (784,000L with plant 5 online): 112 CMO and 169 CDO cumulative deals worth $21.4B; record KRW 6.6tn of 2025 orders, guiding 15-20% revenue growth. - Bristol-Myers Squibb Company High confidence· Contract value $242M · 2023-2030 · Value of the BMS antibody cancer drug contract manufacturing agreement announced in 2023
Samsung Biologics manufactures drug substance for a commercial BMS antibody cancer medicine under a contract announced in 2023 and valued at $242 million through 2030.Confirms KO Yonhap News Agency Published Sep 18, 2023: Samsung Biologics signs a KRW 320 billion CMO agreement with BMSConfirms EN Samsung Biologics Published Sep 18, 2023: Samsung Biologics announces expanded strategic agreement with Bristol Myers Squibb to manufacture antibody cancer drug substance - 리가켐바이오 (ADC 치료제 CDO 위탁개발) High confidence
Signed a CDO contract to develop LigaChem Biosciences' ADC therapeutic - a flagship CDO service engagement. - 리가켐바이오 (ADC CDO·CMO 수주) High confidence
Won ADC development and manufacturing mandates from LigaChem Biosciences (Feb 2024 CDO deal, Songdo ADC facility).Confirms KO Edaily Pharm Published Jun 17, 2024: Samsung Biologics deepens ADC CDMO tie-up with LigaChem - Pfizer Inc. Medium confidence· Contract value ₩922.8B · 2023-06-30/2029-12-31 · Value of the Pfizer contract manufacturing supply agreement disclosed in July 2023
Samsung Biologics manufactures for Pfizer under contract. A securities research report details the value and term, running to the end of 2029, of the agreement disclosed in July 2023.Confirms KO Hyundai Motor Securities Published Jan 12, 2024: Samsung Biologics: Watch the Pace of New OrdersConfirms KO Samsung Biologics Published Jul 4, 2023: Samsung Biologics Wins KRW 1.2 Trillion of Pfizer Manufacturing Contracts - Gilead Sciences, Inc. Medium confidence· Contract value ₩300.5B · 계약 누계 공개액 · Samsung Biologics contract-manufacturing value for Gilead, formerly Immunomedics
Samsung Biologics manufactures for Gilead under contract. A Hana Securities review of Samsung Biologics' supply contracts lists Gilead as a customer, recording a KRW 300.5 billion contract and the 2021 counterparty change and volume increase.Confirms KO Hana Securities Published Jan 30, 2023: Samsung Biologics: 4Q22 Review, a Stabilization Year Before the Next Leap
Pays to
- Samsung E&A Medium confidence
Samsung E&A built Songdo bio plants 1-5, the construction partner for capacity expansion. - 삼성E&A (송도 바이오플랜트 시공) Medium confidence
Samsung E&A (formerly Samsung Engineering) is the EPC partner building the Songdo plants 1-5 (785kL total). - 바이오프로세싱 원부자재 (배지·레진·필터, 싸이티바·써모피셔) Medium confidence
Sources bioprocessing consumables - cell-culture media, chromatography resins and single-use filters - from Danaher (Cytiva), Thermo Fisher and others for its CMO operations.
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Amgen | lead2 | +0.9 | +20.4 | +13.5 | -6.8 | +29.7 | +36.3 |
| Johnson & Johnson | lead2 | +11.4 | +6 | -8.6 | -4.8 | +47.5 | +35.1 |
| Regeneron Pharmaceuticals | lead2 | +30.7 | +14.2 | +21.7 | -18.9 | +9 | +7.7 |
| ABL Bio | lead2 | +15.9 | -31.3 | +14.2 | +65.2 | +443.9 | -63.9 |
| Bristol-Myers Squibb Company | lead1 | +2.9 | +19 | -26.1 | +15.8 | +0.1 | +28.1 |
| Gilead Sciences, Inc. | lead1 | +30 | +23.6 | -2 | +18.7 | +36.6 | +24.5 |
| Pfizer Inc. | lead1 | +66.7 | -10.4 | -41.3 | -2.2 | +0.6 | +20.2 |
| LigaChem Biosciences | lead1 | -26.2 | -18.1 | +37.1 | +151 | +60.5 | -54.7 |
| Samsung Biologics | node | -6.8 | +8.6 | +5.8 | +28.7 | +5 | -17.1 |
| Samsung E&A | benef1 | +74.5 | +20 | -13.7 | -15.9 | +76.7 | +48.9 |
| Danaher Corporation | benef1 | +48.6 | -19 | -1.2 | -0.3 | +0.4 | -8.9 |
| Ecopro HN | benef2 | · | +4.6 | +17 | -47.7 | +38 | -44.3 |
YTD as of 2026-09-04 · source: Yahoo Finance
Samsung Biologics operates across Biologics CDMO (world's largest). It is -17.1% in 2026. The supply side (avg +20%) has moved harder than the stock (-17.1%). That is the classic bottleneck pattern: supplier volume leverage is being priced before this layer's own margin. Among connected nodes the furthest ahead is Samsung E&A (+48.9%) and the furthest behind is LigaChem Biosciences (-54.7%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. In 2025 it spun off Samsung Bioepis to become a pure-play CDMO.
Analysis generated from returns as of 2026-09-04