- Samsung Biologics shareholders have approved the spin-off of its biosimilar business, forming a new entity, Samsung Epis Holdings.
- The move will make Samsung Biologics a pure-play contract development and manufacturing organisation (CDMO).
Samsung Biologics has announced that it will separate its contract development and manufacturing organisation (CDMO) operations from its biosimilar business following shareholder approval of a spin-off plan.
The resolution, initially announced in May, was passed at an extraordinary shareholders’ meeting on 17 October, with 93% of shareholders in attendance and 99.9% voting in favour. Samsung C&T and Samsung Electronics are the company’s major shareholders, holding 43.0% and 31.2% stakes respectively.
Under the plan, Samsung Epis Holdings will be established on 1 November and will take ownership of a 100% stake in Samsung Bioepis, which operates the biosimilar business. The new holding company will manage its subsidiaries and oversee future investments, while Samsung Biologics will focus entirely on its CDMO business.
Trading of Samsung Biologics shares will be suspended from 30 October to 21 November, with relisting of both Samsung Biologics and Samsung Epis Holdings scheduled for 24 November. Shareholders will receive Samsung Biologics and Samsung Epis Holdings shares in a 0.65 to 0.35 ratio.
The company said the spin-off aims to address concerns about conflicts of interest between its CDMO and biosimilar operations and to strengthen its global contract manufacturing expansion.
“This spin-off will be an opportunity for each business—CDMO and biosimilar—to be properly evaluated for their unique value in the capital market.”
John Rim, representative of Samsung Biologics
