Samsung Biologics will buy Switzerland’s Poly Peptide Group for about $1.8bn to expand its manufacturing capabilities amid soaring demand for peptide-based medicines. The South Korean biotech will pay SFr44.30 ($54.90) per share in cash, a 6.1% premium to Friday’s close and roughly 40% above pre‑speculation price. Shares fell as much as 3.3% in Seoul on announcement.

The deal marks the largest M&A in South Korea’s biopharma sector and reflects a 45% rise in outbound Korean M&A to $11.6bn in H1 2025 (Dealogic). Poly Peptide, chaired by Peter Wilden, operates plants in Sweden, Belgium, France, the US and India, and will add peptide capacity to Samsung’s CDMO business. The acquisition supports expansion beyond antibody‑focused services amid booming GLP‑1 demand for weight‑loss drugs like Wegovy.

Morgan Stanley analyst Mi Hyun Kim noted the fit with Samsung’s strategy. The transaction is expected to close by year‑end, subject to regulators. Poly Peptide’s board unanimously recommended the offer; largest shareholder Draupnir Holdings (55.6% stake) will tender all shares. After completion, Samsung intends to delist Poly Peptide from the Swiss exchange and make it a wholly owned subsidiary.