Biogen Entered into an Agreement with Samsung Biologics to Sell Equity Stake in Biosimilar Joint Venture for ~$2.3B
Shots:
- Biogen is eligible to receive ~ $2.3B for its stake in the joint venture which includes $1B in cash at closing, $812.5M at 1st anniversary & $437.5M at 2nd anniversary of the transaction close & is also eligible to receive $50M upon achievement of commercial milestones
- Biogen will also obtain commercial rights for Byooviz (biosimilar, ranibizumab) along with SB15 (aflibercept), a proposed biosimilar referencing Eylea
- Additionally, both companies have built the industry-leading anti-TNF portfolio in the EU including marketed products Benepali (biosimilar, etanercept), Imraldi (biosimilar, adalimumab), and Flixabi (biosimilar, infliximab)
Ref: Biogen | Image:Biogen
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