Biogen and Samsung BioLogics Close Asset Transfer Deal

As we previously reported, Biogen has exercised its option to purchase additional shares of Samsung Bioepis, increasing Biogen’s ownership in the Samsung Bioepis joint venture from approximately 5.4% to approximately 49.9%.  Last week, Samsung BioLogics announced that the asset transfer deal closed, transferring 9,226,068 shares of Samsung Bioepis to Biogen on November 7.  For the shares, Biogen paid Samsung BioLogics approximately 759.5 billion KRW, or approximately $680 million.  According to Tae Han Kim, CEO and president of Samsung BioLogics, the deal enables “a full-fledged joint management system” for the joint venture.

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