SEOUL (Reuters) -Samsung Biologics Co Ltd said on Friday it plans to acquire Biogen Inc’s entire stake in Samsung Bioepis worth 2.8 trillion won ($2.33 billion).
Samsung said it expects the deal to be accretive to its earnings in 2022 and will fund the acquisition by issuing new shares.
Biogen will receive $1 billion in cash at the closing of the deal and $1.25 billion in two payments over the next two years, the U.S. drugmaker said in a separate statement.
“Upon the acquisition of Biogen’s stake, the companies will continue with their exclusive agreements, including commercialization of their current portfolio,” Biogen said.
The U.S. firm said it will also retain commercial rights for BYOOVIZTM, an approved biosimilar, and an investigational biosimilar candidate in development, SB15 (aflibercept).
($1 = 1,203.7700 won)
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Home » Analysis & Comment » Samsung Biologics to acquire stake worth $2.3 billion in Samsung Bioepis
Samsung Biologics to acquire stake worth $2.3 billion in Samsung Bioepis
SEOUL (Reuters) -Samsung Biologics Co Ltd said on Friday it plans to acquire Biogen Inc’s entire stake in Samsung Bioepis worth 2.8 trillion won ($2.33 billion).
Samsung said it expects the deal to be accretive to its earnings in 2022 and will fund the acquisition by issuing new shares.
Biogen will receive $1 billion in cash at the closing of the deal and $1.25 billion in two payments over the next two years, the U.S. drugmaker said in a separate statement.
“Upon the acquisition of Biogen’s stake, the companies will continue with their exclusive agreements, including commercialization of their current portfolio,” Biogen said.
The U.S. firm said it will also retain commercial rights for BYOOVIZTM, an approved biosimilar, and an investigational biosimilar candidate in development, SB15 (aflibercept).
($1 = 1,203.7700 won)
Source: Read Full Article