Biogen’s biosimilar division set to boom

After a mixed Q2 review with new SMA rival’s arrival and end of patent dates looming, Biogen
could use a boost. And that is what is has with its biosimilar division with sales growing by 45% to $184million and that is only with just a few of its products and those only in Europe.

Biogen executives have seen the potential of this division and have poured investment into its biosim joint venture with Samsung last year. Biogen’s Imraldi is a ‘market-leading’ biosimilar to AbbVie’s blockbuster Humira, with the drug generating $47million during the quarter after its October 2018 launch. Imraldi looks promising for Biogen’s future but it still has some way to go before it reaches the heights of Biogen’s most successful biosimilar in Benepali, a similar of Amgen’s Enbrel. Benepali has taken the market share in five European markets and generated $120 million during its 2018 period.

Biogen is looking to offset patent uncertainties, rival products and a failure in its Alzheimer’s pipeline development by boosting its biosimilar focus, with $700m poured into its Samsung Bioepis joint venture.

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