Samsung Bioepis

History

2022: Samsung Biologics buys Biogen's stake in Samsung Bioepis for $2.3 billion

On January 28, 2022, Biogen announced that it would sell its stake in Samsung Bioepis, a joint venture in the production of biosimilars to Samsung Biologics partner for $2.3 billion. The Wall Street Journal notes that Biogen will retain commercial rights to Byooviztm, an approved Lucentis drug biosimilar, as well as the SB15 candidate, which could become a biosimilar for the medical drug Eylea.

The joint venture Samsung Bioepis was established in 2012. Biogen owned almost 50% of the shares in partnership with Samsung. Under the terms of the agreement, Biogen will receive $1 billion in cash at the close of the transaction, and $1.25 billion, which will be deferred for a uniform two payments. Biogen also has the right to receive up to $50 million if certain commercial conditions are achieved, which the company did not report.

Samsung Biologics buys Biogen's stake in Samsung Bioepis for $2.3 billion

Samsung Bioepis is a manufacturer of TNF inhibitor biosimilars, these are molecules, primarily artificially synthesized pharmaceuticals, capable of inhibiting the activity of the pro-inflammatory cytokine TNF and thereby affecting the symptoms of a number of diseases. After the deal closes, the partners will continue to jointly commercialize Samsung Bioepis drugs in Europe.

We are grateful to Samsung Biologics for the productive cooperation since 2012. We believe that biosimilars are essential to maintaining healthcare systems and represent an important value creation opportunity for Biogen, said Biogens Chief Executive Officer Michel Vounatsos.

Samsung Bioepis joint venture has already released five biosimilars. These include autoimmune treatments: Hadlima, an analogue of Humira from AbbVie; Renflexis, a Remicade analogue of Johnson & Johnson; Eticovo and others. Samsung Bioepis also released two Ontruzant and Aybintio oncopreparations, which are analogues of Herceptin and Avastin from Roche^[1]

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