Samsung Biologics Co Ltd

Samsung Biologics, through its Swiss subsidiary Samsung Peptide AG, has published the tender offer prospectus for all publicly held shares of PolyPeptide Group AG, offering CHF 44.31 net in cash per share, implying an aggregate equity value of approximately CHF 1.46 billion. The offer price represents a 40% premium over the unaffected share price on the SIX Swiss Exchange as of April 10, 2026, and an 11.6% premium over the volume-weighted average price of the last 60 trading days before the pre-announcement on July 20, 2026. PolyPeptide's board unanimously recommends acceptance, supported by a fairness opinion from IFBC AG, and Draupnir Holding B.V., holding about 55.65% of shares, has committed to tender all its shares. The main offer period runs from September 15 to October 12, 2026, subject to a minimum acceptance threshold of 66⅔% on a fully diluted basis and regulatory approvals. Following settlement, Samsung Peptide intends to pursue a squeeze-out of remaining minority shareholders and delist PolyPeptide from the SIX.

Samsung Biologics reported consolidated revenue of KRW 1,321 billion and operating profit of KRW 586 billion for the second quarter ended June 30, 2026, representing sequential growth of 5% and 4% respectively from the first quarter. Net income for the quarter was KRW 430.7 billion, down 8.2% from the same period last year but up 29.1% from the prior quarter. For the first half of 2026, cumulative net income reached KRW 899.9 billion, a 35.3% increase from the prior-year period. President and CEO John Rim highlighted progress on the company's growth strategy, including integration of the Rockville Maryland site and expansion of the Netherlands sales office, while reaffirming full-year 2026 revenue growth guidance of 15 to 20 percent.

Samsung Biologics is set to acquire PolyPeptide Group through an all-cash public tender offer valued at 1.46 billion Swiss francs, or 1.81 billion dollars. The proposed offer is set at 44.31 Swiss francs per share for 100 percent of PolyPeptide's fully diluted share capital, excluding treasury shares. Completion is anticipated towards the end of this year, contingent on a minimum acceptance threshold of nearly 67 percent, regulatory approvals, and other conditions under Swiss takeover law. PolyPeptide's board unanimously recommends shareholders accept the offer, and the largest shareholder, holding around 55.65 percent of outstanding shares, has provided an irrevocable undertaking to tender its shares. Samsung Biologics aims to expand beyond antibodies and antibody-drug conjugates into peptide-based therapeutics, leveraging PolyPeptide's facilities in Belgium, France, India, Sweden, and the US.

Samsung Biologics, a major South Korean provider of biopharmaceutical development and contract manufacturing, has announced the acquisition of Switzerland's Polypeptide Group for 1.46 billion Swiss francs, or approximately 1.8 billion dollars, to expand its manufacturing capabilities. Meanwhile, the People's Bank of China today decided to keep the one-year loan prime rate at 3 percent and the five-year loan prime rate at 3.5 percent, marking the 14th consecutive month of unchanged rates and in line with market expectations. A survey by the Bank of Korea indicates that South Korean commercial banks expect to tighten lending standards for households in the third quarter of 2026 amid growing credit concerns. In addition, Air Cambodia, the national carrier of Cambodia, has signed an agreement with Comac to purchase 20 C909 passenger aircraft, making Air Cambodia the first foreign national airline to place a large order for the C909 from China.