As we reported in August, Samsung BioLogics, the biologic drug arm of Samsung Group was planning to raise USD$2.5 billion through an IPO. Yesterday Samsung BioLogics priced 16.5 million shares, valuing the company at as much as USD$8.2 billion. Whereas Samsung BioLogics is a contract manufacturer of biologic drugs, its subsidiary Samsung Bioepis Co. develops biosimilars, such as its follow-on Remicade product whose application FDA accepted for review back in May.
With yesterday’s proposed pricing, Samsung BioLogics could become South Korea’s third-largest IPO on record when it lists shares on the main board of the Korea stock market exchange on November 10th.
