Samsung Bioepis Signs U.S. Sales Deal With Teva Worth Up to 563.2 Billion Won
Upfront payment of 100.6 billion won
Deepening partnership with Teva
Samsung Bioepis has partnered with Israeli pharmaceutical company Teva to sell two biosimilars for autoimmune diseases in the U.S. market. The deal is worth up to 560 billion won, equivalent to 34% of the previous year's consolidated revenue of its holding company, Samsung Epis Holdings.
Exterior view of Samsung Bioepis' headquarters in Yeonsu-gu, Incheon. Samsung Bioepis
View original imageOn November 2 local time, Samsung Bioepis said it had signed a U.S. commercialization partnership agreement with Teva for SB2 (a Remicade biosimilar, marketed as Renflexis) and SB4 (an Enbrel biosimilar, marketed as Eticovo). Both products were developed by Samsung Bioepis and approved by the U.S. Food and Drug Administration (FDA).
Renflexis is used to treat conditions including Crohn's disease, ulcerative colitis, and rheumatoid arthritis, while Eticovo is used to treat rheumatoid arthritis, psoriatic arthritis, and psoriasis.
The deal is worth up to $420 million (approximately 563.2 billion won), including an upfront payment of $75 million (approximately 100.6 billion won) and milestone payments. The milestones will be paid in stages based on product launches and cumulative sales targets. Profits from commercialization will be shared according to the agreement. The contract term and the amount allocated to each product were not disclosed, as agreed by the two companies. Under the agreement, Samsung Bioepis will handle development, manufacturing, and supply, while Teva plans to oversee U.S. sales.
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The agreement further expands the scope of cooperation between the two companies. Samsung Bioepis and Teva currently sell Epysqli (a Soliris biosimilar) together in the U.S. and Opuviz (an Eylea biosimilar) in Canada. In early October, they signed a partnership agreement for the U.S. and European sales of two biosimilar candidates for Fasenra and Ilaris.
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