Biogen Idec and Samsung Bioepis, a joint venture between Samsung Biologics and 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. 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 applying expertise in manufacturing and specialty markets to meet the need for biosimilar therapies.
In February 2013, Samsung Bioepis and Merck & Co (known as MDS outside the United States) formed an agreement to develop and commercialize multiple prespecified and undisclosed biosimilar candidates. Under that agreement, Samsung Bioepis is responsible for preclinical and clinical development, process development and manufacturing, clinical trials and registration. Merck will be responsible for commercialization. Samsung Bioepis will receive an upfront payment from Merck, product supply income, and will be eligible for additional payments associated with prespecified clinical and regulatory milestones. Further financial terms were not disclosed.
Source: Biogen Idec