Samsung BioLogics IPO Plans for November Listing

As we reported in August, Samsung BioLogics, the biologic drug arm of Samsung Group was planning to raise USD$2.5 billion through an IPO. Yesterday Samsung BioLogics priced 16.5 million shares, valuing the company at as much as USD$8.2 billion. Whereas Samsung BioLogics is a contract manufacturer of biologic drugs, its subsidiary Samsung Bioepis Co. develops biosimilars, such as its follow-on Remicade product whose application FDA accepted for review back in May.

With yesterday’s proposed pricing, Samsung BioLogics could become South Korea’s third-largest IPO on record when it lists shares on the main board of the Korea stock market exchange on November 10th.

The Wall Street Journal has more information on this biologic-themed IPO.