Samsung Biologics offers 1.46 billion Swiss francs to buy PolyPeptide Group

Samsung Biologics announced an all-cash tender offer to acquire PolyPeptide Group for 1.46 billion Swiss francs, equivalent to about 1.8 billion dollars, with the bid representing a 28.8 percent premium to the target's closing price on July 18. The transaction would transfer ownership of manufacturing and development sites in Sweden, Belgium, France, the United States, and India.

PolyPeptide, headquartered in Baar, Switzerland, was spun off from Ferring in 1996 and has produced more than 1,000 therapeutic peptides as a contract development and manufacturing organization focused on peptide-based active pharmaceutical ingredients.

Samsung Biologics said the acquisition would expand its operations beyond antibody drugs and antibody-drug conjugates into peptide therapeutics, including GLP-1 medicines for obesity and diabetes treatment. The company cited rising global demand for those therapies. The tender offer is subject to regulatory approvals and is expected to close by the end of 2026.

PolyPeptide's board of directors unanimously recommended that shareholders accept the offer. "After a comprehensive review of strategic options, the Board is convinced that Samsung Biologics' offer is compelling for our shareholders, delivering an attractive cash price and immediate, certain value today," said Peter Wilden, chairman of PolyPeptide.

Samsung Biologics shares fell 1.3 percent in early trading on July 20.