Consecutive Partnerships with Hanmi and Boryung
More Than Half of Products to Be Distributed Through Traditional Pharmaceutical Companies
Samsung Bioepis is accelerating efforts to strengthen its sales capabilities in line with the launch of new biosimilar products. The company plans to actively leverage the existing sales networks of traditional pharmaceutical companies through a series of partnership agreements.
According to the pharmaceutical and biotechnology industry on July 3, Samsung Bioepis intends to market two additional biosimilar products scheduled for release this year, based on partnerships with traditional pharmaceutical companies. Out of the nine biosimilar products launched by Samsung Bioepis in Korea, the company has directly sold five. However, with the recent partnership agreements, more than half of its domestically launched products will now be sold in collaboration with traditional pharmaceutical companies.
This year, Samsung Bioepis has entered into partnerships with Hanmi Pharmaceutical and Boryung. In March, Samsung Bioepis signed a marketing partnership agreement with Hanmi Pharmaceutical for the osteoporosis treatment "Obodense." Obodense received product approval from the Ministry of Food and Drug Safety in April and was launched on July 1.
Under the partnership, Samsung Bioepis will be responsible for the production and supply of the product, while marketing and sales activities will be jointly conducted with Hanmi Pharmaceutical. Hanmi Pharmaceutical is recognized for its competitiveness in the osteoporosis treatment sector, as it owns "Lavondy," which has led the oral osteoporosis drug market since its launch in 2017.
The Xgeva biosimilar "Xbrick," scheduled for release in the second half of the year, will also target the domestic market through a partnership agreement. This product is used for the prevention of skeletal-related events in patients with bone metastases and for the treatment of giant cell tumors of bone.
Samsung Bioepis obtained domestic product approval for Xbrick in May and signed a partnership agreement with Boryung the previous day. As the developer, Samsung Bioepis will handle the production and supply of Xbrick, while Boryung will be responsible for exclusive domestic sales and marketing activities. Boryung holds the largest market share in the domestic oncology drug market among Korean pharmaceutical companies and previously handled the sales and marketing of Samsung Bioepis's oncology drug "Onbevzi," achieving sales of approximately 45.2 billion KRW last year alone.
A representative from Samsung Bioepis stated, "We are forming partnerships with companies that possess specialized sales capabilities and distribution channels for treatments with the same indications as our products," adding, "We will continue to work on expanding sales, including through direct sales."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
