Samsung Bioepis Co., a biosimilar medicine developer under Samsung Group, has been in talks with Biogen Inc. to buy the U.S. biotech firm’s biosimilar business unit, industry sources said Wednesday.
Through the deal with the Nasdaq-listed firm, Samsung Bioepis seeks to secure a direct sales network in the United States, according to the sources.
Biogen is a co-founder of Samsung Bioepis, which was established in 2012 as a 50-50 joint venture with Samsung Biologics Co., and has been cooperating in selling Samsung Bioepis’ products in the U.S.
The Massachusetts-based firm has recently announced plans to sell its biosimilar business as part of its restructuring process.
But Samsung Bioepis said nothing has been decided yet, denying some news reports that the company has completed due diligence.
“When it comes to the acquisition, nothing has been set,” a company official said. “We are reviewing various strategies to secure our biosimilar production capability at a global level and are now focusing on expanding our R&D on competitive pipelines and our sales networks.”
Source: Yonhap News Agency