Samsung Biologics launches bid for PolyPeptide

Samsung Biologics has announced an all-cash public tender offer to acquire 100% of the fully diluted share capital of PolyPeptide Group AG. The proposed offer price is CHF 44.31 in cash for each PolyPeptide share, implying an equity value of approximately CHF 1.46 billion for the Swiss contract development and manufacturing company.

The offer terms represent a 40% premium to PolyPeptide’s undisturbed share price of CHF 31.65, which was the last closing price on the SIX Swiss Exchange as of 10 April 2026. The price also implies about an 11.6% premium to the volume-weighted average share price over the 60 trading days prior to the announcement, highlighting the financial incentive for existing shareholders.

PolyPeptide’s Board of Directors, acting through its independent and non-conflicted members, has unanimously recommended that shareholders accept the tender offer. The board views the proposal as compelling for shareholders and as a transformational opportunity to accelerate PolyPeptide’s strategic ambitions, as emphasized by Chairman Peter Wilden.

Support for the transaction is reinforced by PolyPeptide’s largest shareholder, which holds approximately 55.65% of the company’s outstanding shares, excluding treasury shares. This shareholder has undertaken to tender all of its shares into the offer, significantly advancing progress toward the required minimum acceptance level.

The tender offer is subject to a minimum acceptance threshold of two-thirds, or 66 2/3%, of all PolyPeptide shares on a fully diluted basis by the end of the offer period. In addition to this acceptance condition, the transaction is contingent on customary offer conditions, including the receipt of necessary regulatory approvals.

Samsung Biologics expects to launch the formal tender offer by the end of August 2026 through publication of an offer prospectus. Under Swiss takeover law, the offer period will begin after a ten trading-day cooling-off period and will remain open for a minimum of twenty trading days on the SIX Swiss Exchange. Completion of the transaction is expected towards the end of 2026, assuming satisfaction of all conditions.

Samsung Biologics positions the planned acquisition of PolyPeptide as a step forward in its multi-modality strategy, broadening its capabilities beyond existing modalities. By adding PolyPeptide’s expertise, Samsung Biologics seeks to strengthen its position in peptide-based therapeutics, a specialized area within biopharmaceutical development and manufacturing.

The transaction is also framed as expanding Samsung Biologics’ global network, with an emphasis on enhancing its footprint across the U.S., Europe and India. Integrating PolyPeptide’s operations is intended to complement this network and support a more diversified service offering to biopharmaceutical clients worldwide.