Samsung Biologics Seeks to Raise Over $2 Billion to Fund PolyPeptide Deal, Expansion — Update

By Kwanwoo Jun

Samsung Biologics plans to raise over $2 billion through a rights issue to finance the planned acquisition of PolyPeptide Group and expand its manufacturing capacity.

The South Korean biosimilar drug maker, affiliated with Samsung Group, said Friday that it will issue about 2.3 million new shares at 1,322,000 won each to raise roughly 3 trillion won, equivalent to $2.17 billion. The new shares are scheduled to be listed in November.

Samsung Biologics said it plans to use around 2.71 trillion won of the proceeds on the acquisition of Swiss contract development and manufacturing organization PolyPeptide. It expects the transaction, which was announced in July, to be completed in November.

The PolyPeptide transaction is expected to broaden Samsung Biologics' portfolio into peptide-based therapeutics beyond antibodies and antibody-drug conjugates, helping it meet rapidly growing global demand for diverse modalities, the Korean company said.

Meanwhile, the company said it plans to increase its global manufacturing capacity to about 1.4 million liters by 2032 from 845,000 liters currently.

Samsung Biologics President and Chief Executive John Rim said the acquisition of PolyPeptide and expansion of manufacturing facilities would strengthen the company's leadership position and create lasting value for shareholders.

The new share sale plan sent the stock lower Friday amid investor concerns about dilution for existing shareholders. Shares were last 4.7% lower at 1,519,000 won.

Write to Kwanwoo Jun at kwanwoo.jun@wsj.com

(END) Dow Jones Newswires

August 27, 2026 22:21 ET (02:21 GMT)