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Samsung Bioepis racks up decent sales of biosimilars in Europe

Welfare/Medicine 13:53 July 24, 2019

By Kim Han-joo

SEOUL, July 24 (Yonhap) -- South Korean drugmaker Samsung Bioepis Co. logged a sharp increase in its sales of its key biosimilar products in the European market in the first half, with combined revenues from its signature biosimilars, including Imraldi, nearing US$340 million, industry data showed Wednesday.

According to the earnings report by the U.S.-based Biogen Inc., the sales of Benepali, Flixabi and Imraldi in the January-June period came to US$358.6 million.

Samsung Bioepis is a joint venture between Samsung Biologics -- a biopharmaceutical unit of South Korea's top conglomerate Samsung Group -- and its U.S. partner Biogen.

For the second quarter alone, Samsung's biosimilar revenues increased 44.9 percent on-year to $184 million, driven by sales of Imraldi, a copy of a drug made by AbbVie Inc. and used to combat various immune diseases.

Imradli generated sales of $47 million in the second quarter compared with $35.7 million in the first quarter.

Biogen said sales of Benepali, a biosimilar based on Enbrel, developed by U.S.-based Amgen Inc., reached $120 million for the quarter, a gain of 4 percent on-year. The drug is used in the treatment of rheumatoid arthritis, psoriatic arthritis and axial spondyloarthritis.

The company said sales of Flixabi, used to relieve rheumatoid arthritis, Crohn's disease and ulcerative colitis, jumped by 50 percent from a year earlier to $17 million. The drug was originally developed by Janssen Pharmaceutical.

This undated photo provided by Samsung Bioepis Co. shows three of the company's biosimilars -- Benepali, Imraldi and Flixabi. (PHOTO NOT FOR SALE) (Yonhap)


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