Samsung & Biogen Idec Sign for $300M JV
Samsung and Biogen Idec will invest $300 million to establish a joint venture for the development, manufacture, and commercialization of biosimilars.
Samsung and Biogen Idec have signed an agreement to invest $300 million to establish a joint venture for the development, manufacture, and commercialization of biosimilars.
Samsung will contribute $255 million for an 85% stake and Biogen Idec will contribute $45 million for a 15% stake.
The joint venture based in Korea will contract Biogen Idec and Samsung Biologics for technical development and manufacturing services. The joint venture will not pursue biosimilars of Biogen’s proprietary products.
Tae-Han Kim, Ph.D., chief executive officer of Samsung Biologics, said, “Since many of the world’s top-selling drugs are biologics, developing and m
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