Samsung Biologics Completes $2.3-Bn Acquisition of Samsung BioepisBy
Samsung Biologics, a biologics CDMO, has completed the purchase of Biogen’s 50% stake in the Samsung Bioepis, a biosimilars joint venture between Samsung Biologics and Biogen, for $2.3 billion.
The companies had announced the deal in late January 2022. Biogen initially took a 15% stake in Samsung Bioepis when it was established as a joint venture in 2012. It later exercised an option in 2018 to purchase up to 50% less one share of Samsung Bioepis.
Samsung has completion a first payment of $1.0 billion per the acquisition agreement, and Samsung Bioepis is now a wholly owned subsidiary of Samsung Biologics. The remaining $1.3 billion will be made in installments over two years (as reported on April 20, 2022).
The purchase was funded by a portion of paid-in capital increase of KRW 3 trillion (approximately $2.5 billion) raised by issuing new shares, the proceeds of which will be used to fund the company’s strategic growth plans.
Biogen and Samsung Bioepis will continue with exclusive agreements in their biosimilars portfolio, including the commercialization in Europe of Benepali (etanercept), a biosimilar referencing Amgen’s Enbrel; Flixabi (infliximab), a biosimilar referencing Johnson & Johnson’s Remicade; and Imraldi (adalimumab), a biosimilar referencing AbbVie’s Humira. They also will continue the potential upcoming launches of Byooviz (ranibizumab-nuna), an approved biosimilar referencing Roche’s Lucentis (ranibizumab), and the potential filings for SB15, an investigational biosimilar referencing Bayer’s and Regeneron Pharmaceuticals’ Eylea (aflibercept) in major markets globally. In addition, Biogen says it will continue to pursue further biosimilar opportunities
Samsung Biologics will also continue with its expansion plans as a biologics CMDO. The company is currently building a new biomanufacturing in South Korea with 256,000 L of production capacity, which will partially become operational in October 2022. In addition, Samsung Biologics is in the process of securing additional land of 350,000 m2 for a second biocampus in Korea, which will be 30% larger than the size of its current site.
Source: Samsung Biologics and Biogen