Samsung deal costs Biogen US$700mn

Biogen has exercised its option to increase its ownership stake in Samsung Bioepis – its joint venture with Samsung BioLogics – from 5.4% to around 49.9%, at a cost of “approximately US$700 million”, subject to closing conditions. The exact share purchase price for the transaction – which is expected to close in the second half of 2018 – “will depend on the timing of the closing and foreign currency exchange rates at that time”, Biogen observed.