Merck, Samsung Bioepis ink biosimilars development agreement
Friday, February 22, 2013
Global healthcare company Merck and Samsung Bioepis, a joint venture between Samsung Biologics and Biogen Idec, entered into an agreement to develop and commercialize multiple pre-specified and undisclosed biosimilar candidates.
“The combination of Merck’s global commercial presence with Samsung Bioepis’ biologic development and manufacturing capabilities positions the two companies well to increase access to biosimilars to improve human health,” said Rich Murray, Ph.D., senior vice president, biologics and vaccines research, Merck Research Laboratories. “We look forward to this collaboration and its potential to complement our expanding internal biologics portfolio.”
Samsung Bioepis will be 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 pre-specified clinical and regulatory milestones. Further financial terms were not disclosed.
“Samsung Bioepis has been building the capabilities needed to develop high-quality biosimilars,” said Christopher Hansung Ko, Ph.D., CEO of Samsung Bioepis. “With this development and commercialization agreement, Samsung takes a significant step toward becoming a major player in the biopharmaceutical industry.”