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[Apha Biz=(Chicago) Reporter Paul Lee] Samsung Bioepis is seeking to acquire the biosimilar division of Biogen, a U.S. pharmaceutical company. It is to enhance the profitability of the biosimilar sector by absorbing Biogen's global sales network and establishing a direct sales system.
As the two companies have had a solid partnership over the past decade or so, some predict that Samsung Bioepis is the most likely candidate for the acquisition. The size of the acquisition has not been confirmed, but is estimated at hundreds of billions of won.
According to the investment bank (IB) and the bio industry on the 1st, Samsung Bioepis recently formed a task force (TF) to acquire Biogen and completed due diligence on its biosimilar division. Earlier this year, Biogen put its biosimilar division up for sale to focus on developing new drugs such as Rechembi, an Alzheimer's drug. Evercore was reportedly selected as the organizer.
"At the moment, nothing has been finalized regarding the acquisition of Biogen's business unit," a Samsung Bioepis official said.
If the merger and acquisition (M&A) deal is completed, Samsung Bioepis will secure more than 300 global sales professionals. It is predicted that its own sales and profitability will improve significantly as it does not have a separate broker. Last year, Biogen's biosimilar division generated sales of $ 751 million (about 960 billion won).
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
