Samsung Bioepis' 5 Biosimilars Achieve $342.8 Million in 3Q Sales

Cumulative Sales of $916.2 Million This Year
Sales to Be Received According to Future Settlement Ratios

Samsung Bioepis New Headquarters Exterior (Photo by Samsung Bioepis)

[Asia Economy Reporter Chunhee Lee] It has been revealed that the five biosimilars (biopharmaceutical generics) sold by Samsung Bioepis through its overseas marketing partners Organon and Biogen recorded sales of $342.8 million (approximately 405.5 billion KRW) in the third quarter of this year.

Samsung Bioepis announced on the 12th that its marketing partner Organon disclosed its second-quarter results on the 11th (local time). Organon is a company spun off from the multinational pharmaceutical company MSD to specialize in women's health-focused healthcare and biosimilar sales. Accordingly, the overseas market rights for biosimilar products that Samsung Bioepis had previously contracted with MSD were transferred to Organon. Biogen had earlier announced its third-quarter results on the 20th of last month.

Currently, Samsung Bioepis is selling five biosimilar products in collaboration with marketing partners such as Organon and Biogen: three autoimmune disease treatments (▲ Remicade biosimilar (U.S. name 'Renflexis') ▲ Enbrel biosimilar (European name 'Benepali') ▲ Humira biosimilar (European name 'Imraldi')) and two oncology drugs (▲ Herceptin biosimilar ('Ontruzant') ▲ Avastin biosimilar ('Avensio')).

Biogen is responsible for selling the three autoimmune disease treatments in the European market, while Organon handles sales of the autoimmune disease treatments in all regions except Europe and Korea?including the U.S., Australia, Canada, and Brazil?and sales of the two oncology drugs in all regions except Korea.

Case of Samsung Bioepis' biosimilar (biopharmaceutical generic)
Photo by Samsung Bioepis

According to a summary of the performance announcements from Organon and Biogen, these five biosimilars achieved sales of $342.8 million (approximately 405.5 billion KRW) in the third quarter, marking an 11.7% increase compared to $306.9 million in the same period last year. Year-to-date sales reached $916.2 million (approximately 1.0839 trillion KRW), showing an 11.0% growth compared to $825.3 million in the previous year.

However, these sales figures represent product sales, not the total company revenue of Samsung Bioepis. Samsung Bioepis receives a portion of the product sales revenue according to partnership agreements, which is then reflected in the company’s revenue. The company’s third-quarter revenue will be disclosed later.

The products with the highest sales were the three autoimmune disease treatments for conditions such as rheumatoid arthritis. According to Biogen, Samsung Bioepis’s autoimmune disease treatments sold in Europe reached a total sales volume of $610.2 million (approximately 721.3 billion KRW) through the third quarter of this year. The oncology drug Ontruzant, used for breast cancer treatment, expanded its sales in the U.S. market, and supply of orders in Brazil contributed to cumulative product sales of $110 million (approximately 119.4 billion KRW) this year, showing a 29% increase compared to $78 million in the same period last year.

A Samsung Bioepis official stated, “By achieving over 1 trillion KRW in product sales in the global market in just the third quarter of this year, we are establishing our position as an industry-leading company. We will continue to strive to expand access to high-quality biopharmaceuticals for patients worldwide.”

This content was produced with the assistance of AI translation services.