Issue Date: December 12, 2011
Samsung And Biogen Join For Biosimilars
Biogen Idec has agreed to set up a joint venture in South Korea with Samsung to develop, make, and sell biosimilars, or generic versions of biologic drugs. Samsung, which created a biopharmaceutical manufacturing business in April, will invest $225 million in the venture. Biogen will contribute $45 million, along with protein engineering and biologics manufacturing expertise. The joint venture will not pursue biosimilar versions of Biogen’s products.
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