[Breaking News] Prestige Biologics Signs API CMO Contract Worth 2.666 Billion KRW
Prestige Biologics announced on the 10th that it has signed a contract manufacturing organization (CMO) agreement for active pharmaceutical ingredients (API). T
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Prestige Biologics announced on the 10th that it has signed a contract manufacturing organization (CMO) agreement for active pharmaceutical ingredients (API). The fixed contract amount for this agreement is 2,664,433,000 KRW. This represents 21.27% of the company's recent revenue (12,533,271,503 KRW, based on the separate financial statements as of the end of June 2025). The contract period runs from June 10, 2026, to March 31, 2027, and the end date may be changed upon mutual agreement between the two parties. The company withheld information regarding the contracting party and the sales and supply regions, citing them as "matters requiring confidentiality for business reasons." The information withholding period lasts until March 31, 2027. According to the contract terms, an advance payment exists, and 100% of the contract amount will be paid upon completion of manufacturing. The total disclosed contract amount does not include raw and auxiliary material costs. These material costs will be paid separately from the contract amount; 50% of the total raw and auxiliary material costs will be paid upon signing the contract, and the remaining 50% will be paid upon the completion of each batch. Prestige Biologics plans to execute this contract using its own production methods.
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