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Nov. 6, 2019, 8:21 a.m. EST

Biogen ups investment in biosimilars

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By Jaimy Lee

Biogen Inc. /zigman2/quotes/201531540/composite BIIB +1.77% said it plans to make a $100 million upfront payment to Samsung Bioepis to acquire the rights to commercialize biosimilar versions of Lucentis and Eylea, two blockbuster eye drugs. Samsung Bioepis is a joint venture founded in 2012 between the Cambridge, Mass.-based biotech and Samsung /zigman2/quotes/209800866/delayed KR:005930 -2.91% , the Korean conglomerate. Biogen said it will record a $65 million charge to its research and development expenses as a result of the transaction, which also includes potential additional milestone payments of up to $210 million. Biogen's stock is down 2.9% for the year, while the S&P 500 /zigman2/quotes/210599714/realtime SPX 0.00% is up 23%.

/zigman2/quotes/201531540/composite
US : U.S.: Nasdaq
$ 269.80
+4.68 +1.77%
Volume: 859,462
July 6, 2020 4:00p
P/E Ratio
8.33
Dividend Yield
N/A
Market Cap
$44.03 billion
Rev. per Employee
$1.55M
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/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
53,400.00
-1,600 -2.91%
Volume: 30.76M
July 7, 2020 3:30p
P/E Ratio
17.04
Dividend Yield
2.65%
Market Cap
₩367795.50 billion
Rev. per Employee
N/A
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/zigman2/quotes/210599714/realtime
US : S&P US
3,179.72
0.00 0.00%
Volume: 0.00
July 6, 2020 5:22p
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