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 product development and commercialization after reviewing the market environment and production costs. MSD offered us US$155 million in compensation for termination of the contract, which included the investment we made plus the interest on it. We accepted the offer after a consultation.”