Samsung Bioepis Q1 sales surpass $362 mn in US, Europe

Samsung Bioepis Co. reported that its quarterly overseas sales of key biosimilars exceeded 500 billion won ($362 million), according to figures released by its overseas distribution partners Biogen Inc. and Organon & Co.

The US-based Biogen and Organon stated that Samsung Bioepis’s six biosimilar products generated overseas revenue of $362.4 million in the third quarter.

Samsung Bioepis has sales approval to market eight biosimilars in the US and Europe.

Biogen and Organon sell biosimilars of autoimmune treatments Enbrel, Remicade, and Humira, cancer therapies Herceptin and Avastin, and the retinal disease treatment Lucentis.

This marked an 8% increase compared with $336.3 million in the same period last year.

Revenue from biosimilars that Samsung Bioepis sells directly, such as Soliris, and from Sandoz’s sales of its Stelara biosimilar were not included.

Only a portion of the overseas revenue contributes to Samsung Bioepis’s financials, as the company shares profits with its distribution partners.

This is reflected in parent company Samsung Biologics’ third quarter of this year report, which lists Samsung Bioepis’s sales at 330.3 billion won ($240 million).

Industry analysts expect Samsung Bioepis’s strong performance to continue into the fourth quarter, with annual sales projected to reach 1.4 trillion won.

Write to Ji-Hyun Lee at bluesky@hankyung.com