Samsung Biologics is acquiring Swiss peptide CDMO PolyPeptide Group AG (SIX: PPGN) in an all-cash public tender offer at CHF 44.31 per share — CHF 1.46 billion (~$1.8 billion) total equity value, a 40% premium to the undisturbed price of CHF 31.65 on April 10, 2026.
Source: PolyPeptide announcement (July 20, 2026) | Offer prospectus (Aug 31, 2026)
Deal terms
- Price: CHF 44.31 per share, all cash
- Prospectus: published August 31, 2026 by Samsung Peptide AG after the 10 trading-day cooling-off period under Swiss takeover law
- Offer period: September 15 to October 12, 2026 (minimum 20 trading days)
- Condition: minimum 66⅔% of shares on a fully diluted basis plus customary regulatory approvals
- Anchor support: Draupnir Holding B.V. (~55.65% stake) has irrevocably committed to tender; PolyPeptide's Board unanimously recommends the offer
- Close: targeted end of 2026, followed by squeeze-out and delisting
The deal gives Samsung — historically an antibody manufacturing powerhouse — one of the top three global peptide CDMO capacity positions, spanning Sweden, Belgium, France, the US, and India.
Why now: PolyPeptide H1 2026
On August 13, 2026, PolyPeptide reported H1 revenue of €236.6 million, +41.6% year over year (+43.7% at constant currency), driven by metabolic therapeutics (+72.7%, now 68.4% of revenue). Commercial revenue rose 35.8% on high utilization of the new large-scale Braine-l'Alleud, Belgium capacity. EBITDA rebounded to €49.1 million (20.7% margin) from €4.4 million a year earlier. Full-year 2026 guidance was raised to 25–30% revenue growth with a high-teens EBITDA margin.
Source: PolyPeptide H1 2026 results
What it means for buyers
This is the anchor transaction in the 2026 peptide CDMO consolidation wave, alongside CordenPharma's closing of AmbioPharm. Announced CDMO investments have crossed $2.4 billion year-to-date on GLP-1 demand. Expect continued capacity concentration among fewer, larger operators — and multi-year supply agreements as the norm. See our CDMO market landscape for the broader capacity picture.