Samsung deal costs Biogen US$700mn
Biogen has exercised its option to increase its ownership stake in Samsung Bioepis – its joint venture with Samsung BioLogics – from 5.4% to around 49.9%, at a cost of “approximately US$700 million”, subject to closing conditions. The exact share purchase price for the transaction – which is expected to close in the second half of 2018 – “will depend on the timing of the closing and foreign currency exchange rates at that time”, Biogen observed.
You may also be interested in...
The FDA has approved Samsung Bioepis’ Eticovo as the second biosimilar competitor to Amgen’s blockbuster rheumatoid arthritis biologic Enbrel. Amgen immediately sued for patent infringement.
With sales climbing by more than two-fifths last year, Biogen expects its biosimilar sales to continue to grow by double digits in 2019, driven by the launch of the Imraldi adalimumab biosimilar in mid-October last year.
Japan approval for BTK inhibitor marks new indication but in a small niche market, while another clearance may help extend Latuda's commercial life.