Biogen and Samsung BioLogics Close Asset Transfer Deal

Goodwin
Contact

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.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Goodwin | Attorney Advertising

Written by:

Goodwin
Contact
more
less

Goodwin on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide