Biogen Makes Play for Big Stake in Samsung Bioepis

Puts down $700 million to buy nearly 50% of Samsung.

In a move analysts of the biosimilars market have been looking for, Biogen decided to jump into a pool with both feet that it merely stuck its toe in in 2011. Biogen slapped down $700 million in its bid to buy 49.9% of Samsung Bioepis, Endpoints News reports.

Apparently, the move springs from a change in CEOs. Back in 2011, it was George Scangos. Today it is Michel Vounatsos. “This option allows us to increase our ownership share in a leading biosimilar company at what we believe are attractive terms,” Vounatsos tells Endpoints News. “We look forward to building an important relationship with Samsung BioLogics.”

Source: Endpoints News