Samsung Biologics bids $1.8B for PolyPeptide Group

Samsung Biologics has announced an all-cash public tender offer to acquire Swiss peptide manufacturer PolyPeptide Group AG at CHF 44.31 per share, valuing the company at approximately CHF 1.46 billion ($1.81 billion). The deal, announced on July 20, 2026, marks the largest M&A transaction in South Korea's pharmaceutical and biotech sector and positions Samsung Biologics to capitalize on the booming market for GLP-1 drugs used to treat obesity and diabetes.eqs-news+2

Deal Terms and Shareholder Support

The offer price represents a 40% premium to PolyPeptide's closing share price of CHF 31.65 on April 10, 2026 — the last trading day before market rumors of a potential acquisition surfaced. PolyPeptide's Board of Directors, acting through its independent and non-conflicted members, unanimously recommends shareholders accept the offer. Draupnir Holding B.V., the company's largest shareholder controlling approximately 55.65% of outstanding shares, has provided an irrevocable undertaking to tender all of its shares.webdisclosure+1

The transaction requires a minimum acceptance threshold of 66⅔% and is subject to regulatory approvals. The formal tender offer is expected to launch by the end of August 2026 and will remain open for a minimum of 20 trading days on the SIX Swiss Exchange, following a 10-day cooling-off period under Swiss takeover law. Samsung Biologics expects to complete the acquisition by the end of 2026 and intends to pursue a squeeze-out of remaining minority shares and delist PolyPeptide from the Swiss exchange.investing

Strategic Rationale

The acquisition extends Samsung Biologics' contract development and manufacturing capabilities beyond biologics into peptide-based active pharmaceutical ingredients, a segment experiencing rapid growth driven by GLP-1 therapeutics. PolyPeptide operates manufacturing facilities in Sweden, Belgium, France, the United States, and India, with an innovation center in Strasbourg.webdisclosure+1

PolyPeptide reported strong preliminary results for the first half of 2026, with revenue growth of 41.6% and an improved EBITDA margin of 20.7%, driven primarily by its metabolics segment and large pharmaceutical customers. The GLP-1 peptide CDMO market is projected to grow at roughly 13% annually through 2034.intuitionlabs+1

A Year of Expansion

The deal caps a year of aggressive expansion for Samsung Biologics, which became the first Korean biopharma company to surpass 2 trillion won in annual profit in 2025. Earlier this year, the company completed its $280 million acquisition of a GSK ↘ 2.97% manufacturing facility in Rockville, Maryland, giving it its first U.S. production base. J.P. Morgan JPMorgan Chase & Co. ↘ 0.57% is serving as exclusive financial advisor to Samsung Biologics on the PolyPeptide transaction.kedglobal+2