Biogen Exercises Option to Increase Ownership in Samsung Bioepis
- Biogen will pay
Samsung BioLogicsapproximately $700 millionto increase its ownership in Samsung Bioepis to approximately 49.9%
- Transaction expected to close in the second half of 2018
Under the terms of the 2012 joint venture agreement, Biogen will pay
“We are very pleased with the progress made to date at Samsung Bioepis and believe exercising this option is an opportunity to create meaningful value for our shareholders,” said
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About Samsung Bioepis
Established in 2012, Samsung Bioepis is a biopharmaceutical company committed to realizing healthcare that is accessible to everyone. Through innovations in product development and a firm commitment to quality, Samsung Bioepis aims to become the world’s leading biopharmaceutical company. Samsung Bioepis continues to advance a broad pipeline of biosimilar candidates that includes six late-stage candidates that cover the therapeutic areas of immunology, oncology and diabetes. Samsung Bioepis is a joint venture between
Biogen Safe Harbor
This press release contains forward-looking statements, made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements relating to the potential benefits and results that may be achieved through the exercise of our option to purchase additional shares in Samsung Bioepis; Biogen’s objectives and intentions regarding the Samsung Bioepis joint venture; the anticipated completion and timing of the transaction; capital allocation and investment strategy; anticipated benefits and potential of investments, collaborations, and business development activities; risks and uncertainties associated with drug development and commercialization; and the potential of Biogen’s commercial business and pipeline programs. These forward-looking statements may be accompanied by such words as “aim,” “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “potential,” “project,” “target,” “will,” and other words and terms of similar meaning. You should not place undue reliance on these statements.
These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements, including, without limitation: risks that the transaction will be completed in a timely manner or at all; uncertainty as to whether the anticipated benefits of the transaction and/or the Samsung Bioepis joint venture can be achieved; risks of unexpected costs or delays; third party collaboration risks; risks related to commercialization of biosimilars; and the risks of doing business internationally, including currency exchange rate fluctuations. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ from our expectations in any forward-looking statement. Investors should consider this cautionary statement, as well as the risk factors identified in Biogen’s most recent annual or quarterly report and in other reports Biogen has filed with the
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Source: Biogen Inc.