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Biogen Makes Play for Big Stake in Samsung Bioepis
In a move analysts of the biosimilars market have been looking for, Biogen decided to jump into a pool with both feet that it merely stuck its toe in in 2011. Biogen slapped down $700 million in its bid to buy 49.9% of Samsung Bioepis, Endpoints News reports.
Apparently, the move springs from a change in CEOs. Back in 2011, it was George Scangos. Today it is Michel Vounatsos. “This option allows us to increase our ownership share in a leading biosimilar company at what we believe are attractive terms,” Vounatsos tells Endpoints News. “We look forward to building an important relationship with Samsung BioLogics.”
Source: Endpoints News