Biogen Increases Ownership Stake in Samsung Bioepis

As we previously reported, on April 24, 2018, Biogen announced that it had plans to exercise an option to acquire up to a 49.9% equity stake in Samsung Bioepis, its joint venture with Samsung BioLogics.  Yesterday, Biogen announced that it has exercised its option to purchase additional shares of Samsung Bioepis, increasing Biogen’s ownership in the joint venture from approximately 5.4% to approximately 49.9%.  According to the press release, Biogen will pay Samsung BioLogics approximately $700 million for the option shares, subject to certain regulatory closing conditions, though the exact share purchase price will depend on the timing of the closing and foreign currency exchange rates at that time.  Biogen expects the purchase to close in the second half of 2018.