Samsung Biologics to Buy Biogen's Stake in JV
January 27 2022 - 7:37PM
Dow Jones News
By Stephen Nakrosis
Biogen Inc. on Thursday said it agreed to sell its equity stake
in the Samsung Bioepis joint venture to Samsung Biologics in a deal
that could be worth $2.3 billion.
Samsung Bioepis is a biopharmaceutical company.
The deal will see Biogen receive $1 billion in cash at closing,
the company said. It will also receive $1.25 billion in deferred
payments, with $812.5 million due at the first anniversary and
$437.5 million due at the second anniversary of the transaction
closing.
Biogen is eligible to receive up to $50 million in contingency
payments, it said.
Following the close of the deal, the companies will continue
with their exclusive agreements, including commercialization of
their current portfolio, according to Biogen.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
January 27, 2022 19:22 ET (00:22 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Biogen (NASDAQ:BIIB)
Historical Stock Chart
From Mar 2024 to Apr 2024
Biogen (NASDAQ:BIIB)
Historical Stock Chart
From Apr 2023 to Apr 2024