Samsung Biologics fully acquires Samsung Bioepis for $2.3B

Samsung Biologics has full ownership over Samsung Bioepis after purchasing Biogen’s stake

Samsung Bioepis is a biopharmaceutical company dedicated to developing and manufacturing biosimilar medicines.  

Samsung Biologics CEO John Rim said the announcement ‘marks a significant milestone’ for the company in its ‘continued venture into the biosimilar business and accelerating biosimilar growth’.  

He continued: ‘By leveraging our extensive experience as a leading CDMO, we will further contribute to saving lives of the patients and address a wide array of diseases.’ 

The company says its acquisition will give Samsung Bioepis improved autonomy and agility in business operations, accelerating sales growth as well as biosimilar development capabilities and future performance in novel drug development. 

The purchase was funded by a portion of paid-in capital increase of KRW 3 trillion (approximately $2.5 billion) raised by issuing new shares, the proceeds of which will be used to fund the company’s strategic growth plans.   

Samsung Biologics recently announced that its Plant 4 will be partially operational by October, 2022 and fully operational by mid-2023, at which time the company is expected to hold the world’s largest biomanufacturing capacity. It is also in the process of securing land for its new Bio Campus II, which will be 30% larger than the current site to enable future growth.