Tuesday, July 4, saw the announcement by Samsung Biologics of South Korea of two contracts to produce goods for Pfizer valued a combined 1.2 trillion won ($921.38 million).

As a result of the most recent agreements, the Samsung Group's biotech division will create biosimilar goods in South Korea at its new Plant 4 up until 2029, covering everything from immunotherapy to oncology and inflammation.

According to a statement from Samsung Biologics, the most recent orders from Pfizer raise the total amount of orders from this year to US$1.08 billion.

A 922.7 billion won contract and an extra 254.3 billion won order that is a follow-up to a March transaction are among the announcements made on Tuesday.

The orders were welcomed by Samsung Biologics as an enlargement of a strategic alliance, and the company noted that it had already secured contracts for 1.93 trillion won this year, which was more than its total for the entire previous year.

Samsung Biologics agreed to partnerships with Eli Lilly Kinsale and GlaxoSmithKline earlier this year.