Korean electronics giant Samsung has made a deal with US biotechnology company Biogen Idec (Biogen) to take full ownership of their joint biosimilars venture, Korea-based Samsung Bioepis.
The companies announced on 27 January 2022 that Samsung had agreed to buyout Biogen’s (50%-1 share) stake in Samsung Bioepis for up to US$2.3 billion.
Biogen and Samsung made their first collaboration deal, which led to the creation of Samsung Bioepis, back in 2011 [1] and which led to them having an industry-leading anti-tumour necrosis factor (anti-TNF) portfolio in Europe. Biogen initially invested in a 15% stake in Samsung Bioepis when it was established as a joint venture in 2012. Under the terms of the original agreement, Biogen had the right to purchase up to 50% less one share of Samsung Bioepis, which it exercised in June 2018.
Samsung Bioepis has successfully launched five biosimilars globally, three in autoimmune and two in oncology. Additionally, one product is about to be released in the market and four biosimilars are in phase III clinical trials.
The companies say that they will continue with their exclusive agreements, including commercialization of their current portfolio. Biogen currently commercializes several of these in certain territories. These include the marketed products Benepali (etanercept), Imraldi (adalimumab) and Flixabi (infliximab). The pair signed an agreement allowing Biogen to commercialize these products for an additional five years in Europe in 2019 [2].
Biogen will also retain commercial rights for Byooviz (ranibizumab-nuna), which was approved in Europe and the US in August and September 2021, respectively [3]. In addition, Biogen will also be able to commercialize an investigational biosimilar candidate in development, SB15 (aflibercept), once approved. SB15 is currently in phase III development and was submitted to the Korean Ministry of Food and Drug Safety for approval in October 2021 [4].
The full buyout of Biogen’s stake is expected to accelerate the biosimilar development capabilities for Samsung Bioepis by streamlining its business operations.
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References
1. GaBI Online - Generics and Biosimilars Initiative. Samsung makes biosimilars deal with Biogen Idec [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2022 Feb 4]. Available from: www.gabionline.net/biosimilars/news/Samsung-makes-biosimilars-deal-with-Biogen-Idec
2. GaBI Online - Generics and Biosimilars Initiative. Samsung Bioepis expands biosimilars agreement with Biogen [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2022 Feb 4]. Available from: www.gabionline.net/pharma-news/Samsung-Bioepis-expands-biosimilars-agreement-with-Biogen
3. GaBI Online - Generics and Biosimilars Initiative. EC and FDA approval for first ranibizumab biosimilar Byooviz [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2022 Feb 4]. Available from: www.gabionline.net/biosimilars/news/ec-and-fda-approval-for-first-ranibizumab-biosimilar-byooviz
4. GaBI Online - Generics and Biosimilars Initiative. Biosimilars of aflibercept [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2022 Feb 4]. Available from: www.gabionline.net/biosimilars/general/biosimilars-of-aflibercept
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Source: Biogen, Samsung Biologics
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