---
endpoint: analytics
pattern: Healthcare
status: done
latency_ms: 134613
conversation_id: 1b501a13-d81f-4426-b8af-4ed08eb92a39
citations: 5
created: 2026-05-31 18:09:17Z
---

# Who are the key customers and suppliers of Samsung Biologics?

# Samsung Biologics (207940 KS) — Key Customers & Suppliers

Samsung Biologics operates two segments: **CDMO** (Samsung Biologics standalone — contract manufacturing of biologic drug substance / drug product) and **Biologics Development & Commercialization** (via its subsidiary Samsung Bioepis — biosimilar R&D, production outsourced to CMOs). The customer/supplier base below is sourced from the company's DART regulatory filings (반기/분기보고서 — 2025 H1) and IR materials.

---

## 1. Key Customers (CDMO Segment)

Per the 2Q23 IR deck, Samsung Biologics had **13 of the top 20 Big Pharma companies as clients** (vs. only 3 pre-COVID), with cumulative contracted value of **USD 11.3B** by July 2023 [1].

### 1a. Top-Tier Anchor Clients (cumulative contract value, as disclosed in 2Q23)
| Customer | Cumulative Contract Value (USD M) |
|---|---|
| **Pfizer** | $1,080 [1] |
| **Novartis** | $391 [1] |
| US Pharma (undisclosed) | $113 [1] |
| EU Pharma (undisclosed) | $81 [1] |

### 1b. Full Disclosed CDMO Customer List (per 2025 H1 반기보고서 — bioproduct manufacturing contracts)

These are the named counterparties in the "주요 판매계약 (Major Sales Contracts)" section of the DART semi-annual filing [2]:

| Customer | Contract Date | End Date | Contract Value (USD M) |
|---|---|---|---|
| Cilag GmbH International (J&J subsidiary) | 2016.11.15 | – | 373.0 [2] |
| Sun Pharma Global FZE | 2017.07.04 | – | 55.5 [2] |
| Baxter Healthcare Corporation | 2017.07.20 | 2034.12.31 | 223.0 [2] |
| UCB | 2017.12.21 | 2030.12.31 | 394.3 [2] |
| TG Therapeutics, Inc. | 2018.02.21 | 2026.12.31 | 50.3 [2] |
| Global Pharma's Swiss subsidiary (undisclosed) | 2018.04.30 | 2027.12.31 | 457.1 [2] |
| Ichnos Sciences | 2018.06.01 | – | 15.1 [2] |
| Asian Pharma (undisclosed) | 2018.08.14 | – | 127.6 [2] |
| Gilead Sciences, Inc. | 2018.09.11 | 2025.12.31 | 266.5 [2] |
| Immunovant Sciences GmbH | 2018.12.18 | 2029.12.31 | 43.5 [2] |
| CytoDyn Inc. | 2019.04.01 | 2027.12.31 | 50.2 [2] |
| Checkpoint Therapeutics, Inc. | 2020.10.06 | 2030.10.02 | 19.7 [3] |
| **GlaxoSmithKline Trading Services Ltd (GSK)** | 2020.05.21 / 2020.08.05 / 2022.10.20 | through 2028.12.31 | 591.1 + 183.9 + others [3] |
| **Eli Lilly and Company** | 2020.07.27 | 2026.08.30 | 268.3 [3] |
| **Eli Lilly Kinsale Limited** | 2022.03.28 (eff. 2019.12.20) | 2029.12.31 | 479.0 [3] |
| **AstraZeneca AB** | 2020.09.21 / 2021.05.13 | 2028.12.31 | 377.5 [3] |
| **F. Hoffmann-La Roche Ltd** | 2021.01.15 (multiple) | 2025.12.31 / 2027.12.31 / 2028.12.31 | 550.2 + 219.4 + 213.1 [3] |
| **MSD International Business GmbH (Merck & Co.)** | 2022.07.04 | 2030.12.31 | 263.6 [3] |
| US Pharma (multiple, undisclosed) | various | 2026–2030 | 14.9 / 28.7 / 58.2 [3] |

### 1c. Other Disclosed Counterparties (historic milestones)

In addition to current sales contracts, the company's milestone history (in the annual report) lists these counterparties as production-contract partners: **Immunomedics** (2020 additional production), **Moderna** (COVID-19 mRNA vaccine fill/finish, 2021), and **GreenLight Biosciences** (mRNA candidate, 2021) [5].

### 1d. Customer Concentration Observations
- The customer roster is **highly diversified across global Big Pharma**, with no single client dominating the top line — the largest disclosed cumulative spender (Pfizer at $1.08B) is just under 10% of the $11.3B cumulative book [1].
- Customer growth has been a **post-COVID step-change** — from 3 of top-20 Big Pharma pre-COVID to 13 of top-20 by mid-2023 [1].
- **GSK, Roche, AstraZeneca, Eli Lilly, MSD, and Pfizer** are the largest disclosed anchor accounts based on aggregate contract value across multiple agreements [3].

---

## 2. Key Suppliers (CDMO Raw-Material & Sub-Material Procurement)

The CDMO industry passes through BOM (Bill of Material) raw/sub-material costs in full plus a Handling Fee from customers, so supplier identities are disclosed in DART filings rather than treated as trade secret [4]. Per the 2025 H1 반기보고서 (1H25 procurement):

### 2a. Primary Raw Materials (Resin etc., KRW 275.2 bn purchased in 1H25)
- **Sigma-Aldrich Korea** (씨그마알드리치코리아) — part of **Merck KGaA** [4]
- **Thermo Fisher Scientific Solutions Korea** (써모피셔사이언티픽솔루션스 유한회사) — part of **Thermo Fisher Scientific** [4]
- **Merck Korea** (머크 주식회사) — part of **Merck KGaA** [4]
- (Historic, prior filings) **Global Life Sciences Solutions Singapore** — part of **Cytiva (formerly GE Healthcare Life Sciences, now Danaher)**; **Life Technologies Corporation** — part of Thermo Fisher; **Avantor Performance Materials Korea** — part of **Avantor** [4]

### 2b. Sub-Materials / Consumables (Filters etc., KRW 168.8 bn purchased in 1H25)
- **Merck Korea** (머크 주식회사) [4]
- **Sartorius Korea Biotech** (싸토리우스코리아바이오텍) — part of **Sartorius AG** [4]
- **Avantor Performance Materials Korea** [4]
- **iMarket Korea** (아이마켓코리아) — Korean industrial-MRO procurement intermediary [4]

### 2c. Supplier Concentration Observations
- The supplier base is concentrated in the global **bioprocess oligopoly**: Cytiva (Danaher), Sartorius, Thermo Fisher, and Merck KGaA — the same four vendors that supply virtually every large-scale mAb CDMO/biologics manufacturer globally.
- Combined CDMO procurement (raw + sub-materials) totaled **KRW 444.0 bn in 1H25**, with the broader figure including the biosimilar segment (Bioepis) reaching KRW 553.8 bn [4].
- Because the CDMO model is **cost-pass-through with a handling fee**, supplier-side cost inflation is structurally insulated at the gross-margin line [4].

---

## 3. Strategic Takeaways

- **Customer mix**: Samsung Biologics is now positioned as a top-tier CDMO with **anchor relationships across all of Big Pharma's largest biologics franchises** — Roche (mAbs/oncology), Pfizer, GSK, AstraZeneca, Eli Lilly (GLP-1 / antibody pipeline including Kinsale Ireland), MSD/Merck & Co., Novartis. The diversification reduces single-client risk and supports the ~$11.3B cumulative book [1][3].
- **Supplier dependence**: The company is structurally dependent on the global bioprocess supplier oligopoly (Cytiva/Danaher, Sartorius, Thermo Fisher, Merck KGaA) for chromatography resins, filters, and single-use systems — a dependency shared industry-wide [4]. The CDMO pass-through model mitigates margin risk but not capacity/lead-time risk.
- **Bioepis (subsidiary) supplier disclosure** is limited because Bioepis outsources its biosimilar production to CMOs (mainly Samsung Biologics itself) with order-based procurement [4].

---

**Sources**
[1] Samsung Biologics — Q2 2023 Conference Call Deck (IR Presentation, Jul 2023)
[2] Samsung Biologics — 반기보고서 (Semi-Annual Report, 2025.06) — DART filing, Sales Contracts table
[3] Samsung Biologics — 분기보고서 (Quarterly Report, 2025.09) — DART filing, Sales Contracts table
[4] Samsung Biologics — 반기보고서 (Semi-Annual Report, 2025.06) — DART filing, Raw Materials & Production Facilities section
[5] Samsung Biologics — 2024 Annual Results (사업보고서, DART filing) — Historical Business Activity Timeline

## Citations

- [1] **Samsung Biologics Co Ltd - Q2 2023 - Conference Call Deck** · external
- [2] **반기보고서 (2025.06)** · external
- [3] **분기보고서 (2025.09)** · external
- [4] **반기보고서 (2025.06)** · external
- [5] **Samsung Biologics Co.,Ltd. 2024 Annual Results** · external

