Biogen to sell equity stake in Samsung Bioepis joint venture for up to $2.3B

By Brian Buntz | January 28, 2022

Biogen/Samsung Bioepis After moving to accelerate a confirmatory clinical trial of the Alzheimer’s drug Aduhelm, Biogen (NSDQ:BIIB) plans on selling its equity stake in the Samsung Bioepis joint venture for up to $2.3 billion.

The deal would give Biogen $1 billion in cash and $1.25 billion to be paid in two installments after that. In addition, Biogen could receive an additional $50 million if agreed-upon commercial milestones are met.

Samsung Bioepis has one of the largest portfolios of biosimilars in the industry.

Samsung Biologics and Biogen announced the joint venture in 2012.

Under the terms of the agreement, Biogen will retain rights to BYOOVIZTM (ranibizumab-nuna), a biosimilar referencing LUCENTIS (ranibizumab) and the investigational biosimilar candidate SB15 (aflibercept), a proposed biosimilar referencing EYLEA.

BIIB shares increased 2.31% to $224.00 in after-hours trading.

Filed Under: Drug Discovery
Tagged With: aduca, Aduhelm, Biogen, Samsung Bioepis

About The Author

Brian Buntz

As the pharma and biotech editor at WTWH Media, Brian has almost two decades of experience in B2B media, with a focus on healthcare and technology. While he has long maintained a keen interest in AI, more recently Brian has made making data analysis a central focus, and is exploring tools ranging from NLP and clustering to predictive analytics.

Throughout his 18-year tenure, Brian has covered an array of life science topics, including clinical trials, medical devices, and drug discovery and development. Prior to WTWH, he held the title of content director at Informa, where he focused on topics such as connected devices, cybersecurity, AI and Industry 4.0. A dedicated decade at UBM saw Brian providing in-depth coverage of the medical device sector. Engage with Brian on LinkedIn or drop him an email at bbuntz@wtwhmedia.com.