Samsung Biologics Completes Acquisition of Bioepis Shares... Officially Becomes 100% Subsidiary

Biogen Completes First Payment for Epis Shares
Secures Investment Funds through Successful Rights Offering
"Continued Proactive Investment... Maintaining CDMO Leadership and Accelerating Leap to Global Bio Company"

Incheon Songdo Samsung Biologics Plant 3.

[Asia Economy Reporter Lee Gwan-joo] Samsung Biologics has completed the acquisition of shares in Samsung Bioepis and officially incorporated it as a 100% subsidiary, embarking on a full-scale leap toward becoming a 'global bio company.'

Samsung Biologics announced on the 20th that it has completed the first payment for the acquisition of Bioepis shares from Biogen. According to the contract between the two companies, from the day the first payment was completed, Bioepis officially became a 100% subsidiary of Samsung Biologics.

Earlier in January, Samsung Biologics signed a contract with Biogen to acquire 10,341,852 shares of Bioepis (50% minus one share) held by Biogen for $2.3 billion. Of the total amount, $50 million corresponds to an 'Earn-out' cost to be paid additionally upon meeting certain conditions, and the remaining $2.25 billion will be paid in installments over the next two years.

With the transition to a sole management system under Samsung Biologics, independent and swift decision-making regarding Bioepis is expected to be possible. Samsung Biologics anticipates that through this, it will be able to pursue Bioepis's mid- to long-term growth strategies such as new pipeline development, open innovation, and new drug development more quickly and flexibly.

John Lim, CEO of Samsung Biologics.

Investment funds have been secured through a paid-in capital increase. In the public subscription for the paid-in capital increase conducted for the employee stock ownership association and existing shareholders, a subscription rate exceeding 100% was achieved, raising a total of 3.2 trillion KRW. The 400 billion KRW worth of shares allocated to the employee stock ownership association for employees recorded a subscription rate close to 100%, and existing shareholders such as Samsung C&T and Samsung Electronics subscribed 100%.

Samsung Biologics plans to use the secured funds for the acquisition of Bioepis shares as well as for the construction of the 4th plant and additional land purchases, investing to secure future growth engines.

John Rim, President of Samsung Biologics, said, “The capabilities and know-how possessed by Bioepis will serve as a stepping stone to elevate Samsung’s bio business to a global top-tier level,” adding, “To repay the shareholders who helped with the successful acquisition, we will continue active investments to firmly maintain our leading position in CDMO globally, and based on the capabilities accumulated in the biosimilar business, we will advance as a ‘global integrated biopharmaceutical company.’”

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