Samsung Biologics has announced an all-cash bid worth 1.46 billion Swiss francs ($1.8 billion) to acquire Switzerland-based PolyPeptide Group, a leading manufacturer of peptide-based active pharmaceutical ingredients (APIs).
Under the proposed public tender offer, PolyPeptide shareholders will receive 44.31 Swiss francs per share, with the transaction expected to close by the end of the year. Samsung Biologics said the acquisition would be the largest biopharmaceutical merger and acquisition deal in South Korea’s history.
The move is to expand Samsung Biologics’ presence in peptide therapeutics, one of the fastest-growing segments of the pharmaceutical industry, driven by rising global demand for GLP-1 treatment for obesity and diabetes. Peptide therapeutics are medicines made from short chains of amino acids that help regulate appetite and blood sugar.
PolyPeptide Chairman Peter Wilden said the board believes Samsung Biologics’ offer provides shareholders with an attractive cash price and immediate value following a comprehensive review of strategic options.
Samsung Biologics said the acquisition will strengthen its portfolio beyond antibody drugs and conjugates while meeting growing customer demand for peptide-based therapies. The deal will also expand the company’s global footprint through PolyPeptide’s research, development, and manufacturing network across Sweden, Belgium, France, the United States, and India.
Headquartered in Baar, Switzerland, PolyPeptide has developed and produced more than 1,000 therapeutic peptides since being spun off from pharmaceutical company Ferring in 1996.
