Bioepis JV Sale To Provide Needed Cash To Biogen
Plus Independence For Korean Partner
Biogen may find itself with new business options after agreeing to sell its stake in the Samsung Bioepis biosimilars joint venture for up to $2.3bn.
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Biogen’s biosimilars business took a hit in Q1 following pricing pressures and negative currency fluctuations, with the company now prioritizing the rebuilding of the segment.
The company will prioritize later-stage R&D, including potential accelerated approval for a second anti-amyloid antibody, while replacing its CEO and cutting Aduhelm commercial operations and other costs.
Biogen’s stake in Samsung Bioepis has been fully acquired by former partner Samsung Biologics, following an announcement of the deal in January.