이 기사는 2022년 03월 25일 08:00 thebell 에 표출된 기사입니다.

Samsung Biologics, the biotech arm of South Korea's Samsung Group, has discontinued the International Chamber of Commerce (ICC) arbitration proceedings against U.S.-based Biogen Therapeutics.

The two companies have had a dispute over a non-compete clause signed during their establishment of biosimilar joint venture Samsung Bioepis and started to seek arbitration from the ICC in 2020.

Samsung Biologics said in its report that the company and Biogen stopped the arbitration proceedings filed with the International Court of Arbitration. They reached a settlement in February, following Samsung Biologics’ deal with Biogen in January to buy the U.S. drugmaker's entire stake in Samsung Bioepis.

The arbitration began as the two companies had a disagreement over the non-compete clause in their joint venture agreement to establish Samsung Bioepis in 2011. In 2020, Biogen requested arbitration in the International Chamber of Commerce Court of International Arbitration, seeking interpretation of certain provisions in agreement that the two companies would not engage in independent biosimilar drug business.

With the arbitration case resolved through settlement, Samsung Biologics’ acquisition of Samsung Bioepis is expected to accelerate. Samsung Biologics and Biogen plan to expand their own biosimilar businesses once the Sasmung Bioepis deal is closed in April.

In April 2021, Biogen and China’s Bio-Thera Solutions announced that they entered into a commercialization and license agreement to develop, manufacture and commercialize BAT1806, a Phase 3 clinical stage anti-interleukin-6 receptor monoclonal antibody that is a proposed biosimilar referencing ACTEMRA.

Samsung Bioepis is selling five biosimilars, which are Infliximab, Etanercept, Adalimumab, Trastuzumab and Bevacizumab. The company plans to double the number of its biosimilar products on sale to 10 by 2025.

Even after the transaction is closed, Samsung and Biogen will continue to work closely, according to an official of Samsung Biologics. (Reporting by Eun-su Choi)