Samsung Biologics (KRX: 207940) has launched an all-cash public tender offer to acquire Switzerland-based PolyPeptide Group AG (SIX: PPGN) at CHF 44.31 per share, valuing the peptide-focused contract development and manufacturing organization at approximately CHF 1.46 billion (USD 1.8 billion). The deal extends Samsung Biologics' manufacturing scope beyond antibodies and antibody-drug conjugates into peptide active pharmaceutical ingredients, positioning the South Korean CDMO to serve rising demand for GLP-1 and other metabolic disease therapeutics.
The offer represents a 40% premium to PolyPeptide's unaffected share price of CHF 31.65 as of April 10, 2026, and an 11.6% premium to the 60-day volume-weighted average. PolyPeptide's board, acting through independent members, has unanimously recommended shareholders accept the offer, and the company's largest shareholder has provided an irrevocable undertaking to tender its roughly 55.65% stake. The tender offer is expected to launch by the end of August 2026 and close by year-end. Samsung Biologics intends to pursue a squeeze-out of remaining minority shares and delist PolyPeptide from the SIX Swiss Exchange.
Peptide manufacturing has become one of the fastest-growing segments of pharmaceutical outsourcing as demand for GLP-1 receptor agonists and other peptide therapeutics has strained global production capacity. PolyPeptide operates six GMP manufacturing sites across Europe, the US and India and specializes in peptide API development and commercial manufacturing. The company operates an integrated development-to-commercial model built on modular, automated production lines. The transaction is centered on acquiring manufacturing capacity, technical expertise and a late-stage peptide project portfolio.