Biogen Idec and Samsung launch Samsung Bioepis joint venture

Biogen Idec and partner Samsung have announced the formation of Samsung Bioepis, their new joint venture in the field of biosimilar drugs.

Following on from their announcement in December 2011, the companies have established a new business that will develop, manufacture and market high-quality biosimilars, leveraging the capabilities of both organisations.

Construction work has commenced on Samsung Bioepis' new research and development centre, which is located at Samsung Biologics' site in Song-do Incheon and will be completed before the end of 2012.

Christopher Hansung Ko, the former senior vice-president of Samsung's strategic business development, has been appointed chief executive officer of the new business, with five directors and one auditor to be named on its board.

Samsung owns 85 percent of the new joint venture, with Biogen Idec contributing expertise in protein engineering and biologics manufacturing.

Commenting in December, Biogen Idec's chief executive officer Dr George Scangos said: "We are very impressed with Samsung's track record of leadership and excellence in all their businesses and are excited to be working with them."