{"id":7268,"date":"2011-12-06T10:09:34","date_gmt":"2011-12-06T15:09:34","guid":{"rendered":"http:\/\/sciencebusiness.technewslit.com\/?p=7268"},"modified":"2011-12-06T10:09:34","modified_gmt":"2011-12-06T15:09:34","slug":"biogen-idec-samsung-to-form-300m-biosimilar-venture","status":"publish","type":"post","link":"https:\/\/technewslit.com\/sciencebusiness\/?p=7268","title":{"rendered":"Biogen Idec, Samsung to Form $300M Biosimilar Venture"},"content":{"rendered":"<figure id=\"attachment_3579\" aria-describedby=\"caption-attachment-3579\" style=\"width: 250px\" class=\"wp-caption alignleft\"><a href=\"http:\/\/technewslit.com\/sciencebusiness\/wp-content\/uploads\/2011\/03\/Beakers_ResearchGov.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-3579\" title=\"Beakers_ResearchGov\" src=\"http:\/\/technewslit.com\/sciencebusiness\/wp-content\/uploads\/2011\/03\/Beakers_ResearchGov.jpg\" alt=\"Beakers (Research.gov)\" width=\"250\" height=\"200\" srcset=\"https:\/\/technewslit.com\/sciencebusiness\/wp-content\/uploads\/2011\/03\/Beakers_ResearchGov.jpg 250w, https:\/\/technewslit.com\/sciencebusiness\/wp-content\/uploads\/2011\/03\/Beakers_ResearchGov-150x120.jpg 150w\" sizes=\"auto, (max-width: 250px) 100vw, 250px\" \/><\/a><figcaption id=\"caption-attachment-3579\" class=\"wp-caption-text\">(Research.gov)<\/figcaption><\/figure>\n<p><a href=\"http:\/\/www.biogenidec.com\/PRESS_RELEASE_DETAILS.aspx?ID=5981&amp;ReqId=1636432\">Biogen Idec<\/a>, a biotechnology company in Weston, Massachusetts, and the Korean conglomerate <a href=\"http:\/\/www.samsung.com\/us\/aboutsamsung\/corporateprofile\/\">Samsung<\/a> will form a joint venture to develop and market follow-on biologic drugs known as biosimilars. Investments by both companies in the venture will total $300 million.<\/p>\n<p>Samsung will contribute $255 million of the $300 million for an 85 percent stake in the joint venture, and Biogen Idec will contribute $45 million for a 15 percent stake. The joint venture, based in Korea, will contract with Biogen Idec and Samsung Biologics for technical development and manufacturing services.<\/p>\n<p>Samsung formed Samsung Biologics in April 2011 to specialize in biopharmaceutical manufacturing. &#8220;By combining Biogen Idec&#8217;s expertise in biologics with our business acumen and proven record of success in new business development, we are taking a significant step toward becoming a major player in the biopharmaceutical industry,&#8221; says Tae-Han Kim, the CEO of Samsung Biologics.<\/p>\n<p><a href=\"http:\/\/www.ncbi.nlm.nih.gov\/pmc\/articles\/PMC2638545\/\">Biosimilars<\/a> are generic versions of biologics therapies, developed after the expiration of patents on the original versions. The joint venture does not plan to develop biosimilars of Biogen Idec&#8217;s own products. The company has specialized in therapeutics for neurodegenerative diseases, hemophilia, and autoimmune disorders.<\/p>\n<p>Read more:<\/p>\n<ul>\n<li><a href=\"http:\/\/sciencebusiness.technewslit.com\/?p=7078\">MedImmune, Univ. of Michigan to Partner on Biologics<\/a><\/li>\n<li><a href=\"http:\/\/sciencebusiness.technewslit.com\/?p=1870\">Biotech Company Consolidates, Cuts Workforce 13%<\/a><\/li>\n<\/ul>\n<p style=\"text-align: center;\">*\u00a0\u00a0\u00a0\u00a0 *\u00a0\u00a0\u00a0\u00a0 *<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Biogen Idec, a biotechnology company in Weston, Massachusetts, and the Korean conglomerate Samsung will form a joint venture to develop and market follow-on biologic drugs known as biosimilars. Investments by both companies in the venture will total $300 million. Samsung will contribute $255 million of the $300 million for an 85 percent stake in the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[107,31,21,104,64,20],"class_list":["post-7268","post","type-post","status-publish","format-standard","hentry","category-ventures","tag-asia","tag-biomedical","tag-biotech","tag-korea","tag-life-sciences","tag-manufacturing"],"_links":{"self":[{"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=\/wp\/v2\/posts\/7268","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7268"}],"version-history":[{"count":3,"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=\/wp\/v2\/posts\/7268\/revisions"}],"predecessor-version":[{"id":7271,"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=\/wp\/v2\/posts\/7268\/revisions\/7271"}],"wp:attachment":[{"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}