SEOUL, July 4 Reuters South Korea39;s Samsung Biologics announced on Tuesday two deals with Pfizer worth a combined 897 million to manufacture products for the U.S. pharmaceutical giant.

The latest deals will see the biotech division of the Samsung Group produce biosimilar products ranging from oncology and inflammation to immunotherapy in the period to 2029 at its new Plant 4 in South Korea.

The latest orders bring this year39;s combined tally of orders from Pfizer to 1.08 billion, Samsung Biologics said in a statement.

Tuesday39;s announcements include a 704 million contract, as well as an additional 193 million order that is a followup to a deal previously announced in March.

Samsung Biologics welcomed the orders as an expansion of a strategic partnership, adding that its total contracts so far this year had already surpassed last year39;s annual contract volume.

Earlier this year, Samsung Biologics signed deals with Eli Lilly Kinsale and GlaxoSmithKline.

In March, Samsung Biologics announced a plan to invest 2 trillion won 1.54 billion through September 2025 to build a new factory in South Korea.

1 1,302.8100 won

Reporting by Hyunsu Yim Editing by Ed Davies

Source Reuters