Samsung Bioepis ponders acquiring unit from U.S. partner Biogen

Samsung Bioepis is mulling the acquisition of a biosimilar business unit from its long-standing overseas partner Biogen, according to local media reports citing financial industry sources.

Samsung Bioepis' headquarters in Songdo, Incheon [SAMSUNG BIOEPIS]

Samsung Bioepis is mulling over the acquisition of a biosimilar business unit from its long-standing overseas partner Biogen, according to local media reports citing financial industry sources.

The possible deal is estimated to be worth less than 1 trillion won ($770.4 million).

If signed, the acquisition is expected to bolster Samsung Bioepis' pharmaceutical sales in the United States and European countries.

Samsung Bioepis did not confirm the reports, saying that “we are not in a position to comment on the matter.”

The Incheon-based company added that “Samsung Bioepis has always been reviewing various business strategies to boost the company's growth, and is currently focusing on developing and expanding our biosimilars portfolio.”

Biogen is based in Cambridge, Massachusetts and handles the local marketing and sales of Samsung Bioepis’ biosimilar products such as Benepali, Imraldi and Flixabi in overseas markets.

When Samsung Bioepis was established in 2012 by Samsung Biologics and Biogen, Biogen held a 49 percent share of the company, while Samsung Biologics held the rest. Biogen sold its stake to Samsung Biologics in April last year for $2.3 billion.

Samsung Bioepis is currently a wholly-owned subsidiary of Samsung Biologics.

Biogen put its biosimilar unit up for sale as the U.S. company is going through a corporate shake-up following the commercial failure of its Alzheimer’s treatment Aduhelm.

Meanwhile, Samsung Bioepis' commercial partner Organon recently began selling Hadlima, a biosimilar of the blockbuster autoimmune diseases drug Humira, in the United States. Hadlima was recently included in Prime Therapeutics's formulary, crossing one of the biggest hurdles to tap an approximately $20 billion market.

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]