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THE INVESTOR] US biopharmaceutical company Biogen has gained about 1.85 trillion won (US$1.66 billion) on valuation of its call option from its contract with Samsung, according to the Korea Economic Daily on Oct. 6.
This follows the hike in the value of Samsung Bioepis, which was established in 2012 as a joint venture between Samsung Biologics and Biogen. Biogen invested 49.5 billion won for 15 percent stake, with a call option that can secure up to 49.9 percent stake by the end of 2018.
Samsung Bioepis has succeeded in commercializing biosimilars gaining approval for sale in South Korea and Europe, with more awaiting approvals. Samsung Biologics has increased its stake in Bioepis to 91.2 percent participating in capital increases that amount to 578.3 billion won. The entire stake of Samsung is estimated to be 8.75 trillion won.
By Hwang You-mee (
glamazon@heraldcorp.com)
