Samsung deal costs Biogen US$700mn

  
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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.

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.

Under the terms of Biogen and Samsung BioLogics’ joint venture agreement in 2012, Biogen had the right to execute a...

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