Samsung Biologics agreed on 20 July to make an all-cash tender offer of CHF44.31 a share for SIX-listed PolyPeptide Group, valuing the peptide drug manufacturer's equity at about CHF1.46bn.
Why Samsung Biologics is buying PolyPeptide Group AG
Samsung Biologics said the deal adds peptide therapeutics to its antibody and antibody-drug conjugate services, with a focus on GLP-1 treatments for obesity and diabetes, and broadens its manufacturing footprint in the US, Europe and India with additional capacity and a late-stage peptide pipeline.
“delivering an attractive cash price and immediate, certain value today”
Deal terms and financing
The price is about 40% above PolyPeptide's undisturbed close of CHF31.65 on 10 April 2026, before reports of a possible deal. The offer requires acceptances of at least 66⅔% of the fully diluted shares, and Samsung Biologics intends to squeeze out remaining holders and delist PolyPeptide from SIX.
Regulatory approvals and timing
The offer prospectus was published on 31 August 2026 and the main offer period ran from 15 September to 12 October 2026. Completion is subject to regulatory approvals and is expected towards the end of 2026.
Market context
PolyPeptide is a contract development and manufacturing organisation for peptide-based active ingredients, with production sites in Sweden, Belgium, France, the US and India. The board said the offer followed a competitive process that drew proposals from several parties.
