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Samsung Bioepis partners with Chinese bio firm to expand biosimilar business

All Headlines 10:59 January 07, 2019

By Kim Han-joo

SEOUL, Jan. 7 (Yonhap) -- South Korean pharmaceutical firm Samsung Bioepis Co. said Monday that it has joined hands with Chinese biopharmaceutical company 3SBio Inc. to make further inroads into the world's second largest bio market.

The agreement covers collaboration for the clinical development and commercialization of multiple biosimilars produced by Samsung Bioepis, including SB8, officials said. The two companies will further partner in the regulatory registration of biosimilars in China, the company said.

Samsung Bioepis will receive upfront payment and milestone payments, as well as royalties depending on future sales, Samsung Bioepis said, without further disclosing financial details.

"We are very excited to expand our biosimilar business into China, and we hope to see our products play an important role in widening patient access to high-quality healthcare," Samsung Bioepis CEO Christopher Hansung Ko said in a press release. "We are confident we will achieve this goal through our partnership with 3SBio."

Samsung Bioepis, established in 2012 in a joint venture between Samsung BioLogics Co. and Biogen, currently has four biosimilars approved and marketed across Europe -- Benepali, Imraldi, Ontruzant and Flixabi -- and one in the United States, Renflexis.

This undated photo provided by South Korean pharmaceutical firm Samsung Bioepis Co. shows its headquarters building. (Yonhap)

khj@yna.co.kr
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