Date: 2013-12-17
Type of information: Commercialisation agreement
Compound: anti-TNF biosimilar product candidates
Company: BiogenIdec (USA - MA) Samsung Bioepis (South Korea)
Therapeutic area: Autoimmune diseases – Inflammatory diseases - Rheumatic diseases
Type agreement: commercialisation
Action mechanism:
Disease: rheumatoid arthritis, Crohn’s disease
Details: * On December 17, 2013, Biogen Idec and Samsung Bioepis have announced that through their joint venture, Biogen Idec has exercised its right to enter into an agreement to commercialize anti-TNF biosimilar product candidates in Europe, including biosimilars for widely used therapies to treat conditions such as rheumatoid arthritis and Crohn’s disease. Under the agreement, Biogen Idec will be responsible for commercialization of these product candidates across Europe, where there already exists a strong market for biosimilars and a defined regulatory pathway. The agreement with Samsung Bioepis aligns with Biogen Idec’s broader corporate objectives of remaining focused on its core business, while leveraging its expertise in manufacturing and specialty markets to meet the need for biosimilar therapies.
In February 2012, Samsung Biologics and Biogen Idec have established their joint venture, Samsung Bioepis Co., Ltd., to develop, manufacture and market biosimilars in keeping with their agreement announced in December 2011. Construction of Samsung Bioepis’ research and development center, located at Samsung Biologics’ site in Song-do Incheon, Korea, has started. Under the terms of the joint-venture agreement, Samsung will contribute $255 million of the $300 million for an 85 percent stake and Biogen Idec will contribute $45 million for a 15 percent stake in the joint venture. The joint venture is based in Korea and has contracted with Biogen Idec and Samsung Biologics for technical development and manufacturing services. The joint venture will not pursue biosimilars of Biogen Idec’s proprietary products.
Financial terms:
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