Pharma Giant Merck announced on 20 February 2013 that it had made a deal to develop and commercialize biosimilars with Samsung Bioepis.
Samsung Bioepis is a joint venture between South Korean electronics giant Samsung and biotechnology company Biogen Idec. The joint venture was set up in December 2011 and the two companies pledged back then to invest US$300 million to establish the joint venture, with the intention of developing, manufacturing and marketing biosimilars.
Samsung Bioepis will be responsible for preclinical and clinical development, process development and manufacturing, clinical trials and registration, while Merck will be responsible for commercializing any resulting biosimilars. Merck says the partnership will complement the firm’s expanding internal biologicals portfolio.
Samsung Bioepis will receive an undisclosed upfront payment from Merck, product supply income and will be eligible for additional payments associated with pre-specified clinical and regulatory milestones.
The deal takes Samsung closer to its goal of ‘becoming a major player in the biopharmaceutical industry’ and ‘positions the two companies well to increase access to biosimilars to improve human health’. However, which biosimilars the companies will be focussing on was not disclosed.
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Source: www.gabionline.net
