Bristol-Myers
Squibb Company (NYSE:BMY) and Samsung
BioLogics today announced the companies have entered into a 10-year
agreement under which Samsung BioLogics will manufacture a commercial
antibody cancer drug for Bristol-Myers Squibb at its recently completed
plant in Songdo Incheon, South Korea.
Financial terms were not disclosed. Technology transfer and trial
production will commence in July 2013 and commercial production will
immediately begin following regulatory approvals.
"We are pleased to announce this strategic manufacturing relationship
with Bristol-Myers Squibb and look forward to delivering best-in-class
manufacturing services with the highest global quality standards," said
Tae-Han Kim, president and CEO of Samsung BioLogics. “The relationship
with Bristol-Myers Squibb represents the validation of our long-term
commitment to the biopharmaceutical manufacturing industry.”
"Our agreement with Samsung is an important part of our company’s
overall manufacturing and supply strategy focused on creating long-term
relationships with high quality manufacturing partners around the
world,” said Louis Schmukler, president, Global Manufacturing & Supply,
Bristol-Myers Squibb. “This agreement increases our biologic
manufacturing capacity to help ensure sufficient long-term supply of our
commercial products.”
About Samsung BioLogics
Samsung BioLogics is a global full-service provider of quality-driven
contract process development and cGMP manufacturing to the global
biopharmaceutical industry. Our facilities are custom designed for
monoclonal & recombinant production with maximum flexibility. Our
one-stop services include cell line generation, process and analytical
method development, analytical services, clinical and commercial bulk
cGMP manufacturing of drug substance and drug product including quality
assurance, quality control, regulatory compliance standards & support
for our customers. For additional information about the company, please
visit http://www.samsungbiologics.com.
About Bristol-Myers Squibb
Bristol-Myers Squibb is a global biopharmaceutical company whose mission
is to discover, develop and deliver innovative medicines that help
patients prevail over serious diseases. For more information, please
visit www.bms.com
or follow us on Twitter at http://twitter.com/bmsnews.
Samsung Disclaimer
This press release may contain certain forward-looking statements that
reflect our current views and expectations with respect to our
performance, businesses, and future events. Please understand that these
statements are subject to a number of risks, uncertainties, and
assumptions, any of which could cause actual results to materially
differ from the plans, objectives, expectations, estimates, and
intentions we express. In no event will we or any of our subsidiaries,
affiliates, directors, officers, agents, or employees be liable before
any third party, including investors, for any investment or business
decision made or action taken based on information and statements
contained in this press release or for any consequential, special, or
similar damages.
Bristol-Myers Squibb Forward Looking Statement
This press release contains “forward-looking statements” as that term
is defined in the Private Securities Litigation Reform Act of 1995,
regarding the research, development and commercialization of
pharmaceutical products. Such forward-looking statements are based on
current expectations and involve inherent risks and uncertainties,
including factors that could delay, divert or change any of them, and
could cause actual outcomes and results to differ materially from
current expectations. Among other risks, there is no guarantee that we
and Samsung will receive the necessary regulatory approvals for
commercial production as described in this press release. No
forward-looking statement can be guaranteed. Forward-looking statements
in the press release should be evaluated together with the many
uncertainties that affect Bristol-Myers Squibb’s business, particularly
those identified in the cautionary factors discussion in Bristol-Myers
Squibb’s Annual Report on Form 10-K for the year ended December 31,
2012, its Quarterly Reports on Form 10-Q, and Current Reports on Form
8-K. Bristol-Myers Squibb undertakes no obligation to publicly update
any forward-looking statement, whether as a result of new information,
future events, or otherwise.
Bristol-Myers SquibbMedia (US):Laura Hortas, 609-252-4587laura.hortas@bms.comorMedia (Korea):Jeongsook Kim, 82-2-3404-1372jeongsook.kim@bms.comorInvestors:John Elicker, 609-252-4611john.elicker@bms.comorSamsung BioLogicsMedia:Changsiik Park, 82-010-4208-0884Changsiik.park@samsung.com