SEOUL (KOREA) and WHITEHOUSE STATION, NJ (USA) Feb. 20, 2013 – Samsung Bioepis Co., Ltd. and MSD, known as Merck in the United States and Canada, announcedtoday they have entered into an agreement to develop and commercialize multiple pre-specified and undisclosed biosimilar candidates.
“Samsung Bioepis has been building the capabilities needed to develop high-quality biosimilars,” said Christopher Hansung Ko,Ph.D., CEO of Samsung Bioepis. “With this development and commercialization agreement, Samsung takes a significant step towards becoming a major player in the biopharmaceutical industry.”
Under the agreement, Samsung Bioepis will be responsible for preclinical and clinical development, process development and manufacturing, clinical trials and registration. MSD will be responsible for commercialization. Samsung Bioepis will receive an upfront payment from MSD, product supply income and will be eligible for additional payments associated with pre-specified clinical and regulatory milestones. Further financial terms were not disclosed.
“The combination of Merck’s global commercial presence with Samsung Bioepis’ biologic development and manufacturing capabilities positions the two companies well to increase access to biosimilars to improve human health,” said Rich Murray, Ph.D., senior vice president Biologics and vaccines research at Merck. “We look forward to this collaboration and its potential to complement our internal, expanding biologics portfolio.”
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
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