Samsung Bioepis has forged a partnership with a Chinese company to speed up its entry into the Chinese biopharmaceutical market.Samsung Bioepis announced on Jan. 11 that it has signed a partnership agreement with C-Bridge Capital, a Chinese venture fund management company, for development and sales
Samsung Bioepis' Imraldi, a biosimilar to Humira, gained 62 percent of the market in Germany as of Nov. 13, according to a tally released by medical market researcher IQVIA on Dec. 10. The figure was reached less than a month after the South Korean drug company launched Imraldi in Europe on Oct.
The Securities and Futures Commission (SFC) concluded on Nov. 14 that Samsung BioLogics intentionally committed accounting fraud in changing its accounting standard in 2015.Kim Yong-beom, vice chairman of the Financial Services Commission who heads the SFC, told a news conference at the government o
Samsung Bioepis and other biosimilar developers are on alert as the U.S. biotech company AbbVie has cut down the price of Humira in Europe by 80%.Humira, an autoimmune disease treatment, is the top-selling drug in the global market, with global sales reaching 20 trillion won (US$18 billion) last yea
As Samsung BioLogics has decided to jointly manage Samsung Bioepis with U.S.-based Biogen, all eyes are on how the decision will affect the financial authorities ruling on Samsung BioLogics’ allerged accounting fraud.Samsung BioLogics said in a regulatory filing on Nov. 6 that it will complete the t
Samsung Bioepis has launched “Imraldi,” a biosimilar to Humira, the world's top-selling biopharmaceutical from AbbVie, in Europe.Samsung Biotepis CEO Han Seung-jin said on Oct. 17, "With the launch of Imraldi, Samsung Bioepis has successfully rolled out all of its four biosimilars that have been
The Financial Supervisory Service’s re-audit of Samsung BioLogics is in its final stage. The financial regulator is expected to maintain its previous conclusion that the biotech company had deliberately committed accounting fraud. As a result, the company is likely to suffer heavy penalties."A re-au
A contract between Samsung Bioepis and MSD to develop and commercialize insulin biosimilar products has been terminated. The product was developed by MSD, a global pharmaceutical company, and Samsung Bioepis invested in its project.An official from Smasung Bioepis explained, "MSD decided to end the
Samsung Bioepis and Celltrion are competing to become the first Korean company to develop a biosimilar to “Avastin,” a blockbustger drug for colorectal cancer developed by global pharmaceutical company Roche.The two companies previously competed over the development of a biosimilar to “Herceptin,” a
Samsung Bioepis will launch a collaborative program to help promising biotech startups with overseas clinical trials and product commercialization. The company’s move will provide a big boost to domestic bio startups, which have been hesitant about overseas clinical trials due to high costs.Industry
Samsung BioLogics has started the production of biosimilars for the first time since its foundation. After earning global competitiveness and trust in the contract manufacturing organization (CMO) market, it has decided to jump into production of biosimilars two years ahead of its initial plan.Accor
The Securities and Futures Commission (SFC), which is deliberating the accounting fraud allegations against Samsung BioLogics, has looked into Celltrion’s biosimilar approval process and its sales record in order to assess the corporate value of Samsung Bioepis, a biosimilar producer which is at the
The Securities and Futures Commission (SFC) of the Financial Services Commission (FSC) has requested the Financial Supervisory Service (FSS) to supplement its audit report on Samsung BioLogics.SFC made the decision because it judged that it was necessary to go over Samsung BioLogics’s accounting boo
The main ground for the Financial Supervisory Service’s allegations that Samsung BioLogics had committed accounting fraud was the company’s conversion in 2015 of the status of Samsung Bioepis from a subsidiary to an affiliate. But the FSS actually argued during its special audit of Samsung BioLogics
Financial Services Commission (FSC) Chairman Choi Jong-ku said on May 18 that he would actively take the International Financial Reporting Standards (IFRS) into account at the second meeting of the Accounting Oversight Deliberation Committee (AODC) regarding the accounting fraud allegations against
The South Korean financial authorities are likely to wrap up their review of the accounting fraud allegations against Samsung BioLogics earlier than expected.According to the authorities, the Accounting Oversight Deliberation Committee is planning to finish its review within this month and report th
The stock price of Samsung BioLogics dropped by more than 17% after the Financial Supervisory Service (FSS) made an announcement on Samsung BioLogics’ accounting fraud allegations.On May 2, the stock price fell 17.21% or 84,000 won per share and closed at 404,000 won with the daily trading volume sk
The Samsung Group is planning to sell its remaining shares in Hanwha General Chemical to Bain Capital for 700 billion won. Investment experts are predicting that Samsung will spend the money to increase its stakes in its future growth drivers such as Samsung Bioepis.Samsung C&T and Samsung SDI annou