Seoul, Korea and Cambridge, Mass. – December 17, 2013 – Samsung Bioepis Co., Ltd. and Biogen Idec today announced that through their joint venture, Biogen Idec has exercised its right to enter into an agreement to commercialize anti-TNF biosimilar product candidates in Europe, including biosimilars for widely used therapies to treat conditions such as rheumatoid arthritis and Crohn’s disease.
“Biogen Idec has been an innovative joint venture partner in Samsung Bioepis and now with this agreement we are excited to extend our relationship into commercial operations,” said Christopher Hansung Ko, Ph.D., CEO of Samsung Bioepis. “Samsung Bioepis has established a global commercialization plan for its antibody drugs currently under development, and we believe this agreement will further serve as a solid foundation for Samsung Bioepis to develop into a worldwide biosimilar leader.”
Under the agreement, Biogen Idec will be responsible for commercialization of these product candidates across Europe, where there already exists a strong market for biosimilars and a defined regulatory pathway. The agreement with Samsung Bioepis aligns with Biogen Idec’s broader corporate objectives of remaining focused on its core business, while leveraging its expertise in manufacturing and specialty markets to meet the need for biosimilar therapies.
“This is a unique opportunity for us to leverage our experience in developing and manufacturing high-quality biologics in therapeutic areas where we are deeply focused, and provide medicines to patients where there is a significant societal need,” said Tony Kingsley, executive vice president of global commercial operations for Biogen Idec. “As a company that aims to make a difference in the lives of patients with serious diseases, we are excited by the potential to offer additional highly effective therapies in critical areas where there is growing demand.”
Samsung Bioepis, a joint venture between Samsung Biologics and Biogen Idec, aims to develop affordable and high-quality biopharmaceutical and biosimilar products. For more information, please visit www.samsungbioepis.com
Through cutting-edge science and medicine, Biogen Idec discovers, develops and delivers to patients worldwide innovative therapies for the treatment of neurodegenerative diseases, hemophilia and autoimmune disorders. Founded in 1978, Biogen Idec is the world’s oldest independent biotechnology company. Patients worldwide benefit from its leading multiple sclerosis therapies, and the Company generates more than $5 billion in annual revenues. For product labeling, press releases and additional information about the Company, please visit www.biogenidec.com