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US-based Organon, a global healthcare company with deep expertise in biosimilars, and Korea's Samsung Bioepis have announced the expansion of their development and commercialisation agreement, to commercialise a new biosimilar in Australia by Organon ANZ.
Under the terms of the agreement, Organon will obtain exclusive commercial rights to the product in Australia while Samsung Bioepis will maintain full development, manufacturing and regulatory responsibilities.
“This expanded agreement reflects Samsung Bioepis’ enduring commitment to widening global access to biosimilars,” said Jinhan Chung, Vice President and Head of Commercial Strategy for International Markets, Samsung Bioepis.
“In Australia, biosimilars play a vital role in expanding choices available to patients and healthcare professionals while supporting the financial sustainability of the healthcare system. Strong partnerships are critical to achieving this effort”, said Martie de Villiers, Biosimilars Business Unit Manager, Organon ANZ.
According to an analysis that aimed to estimate the historical and future financial impact of biosimilars on Pharmaceutical Benefit Scheme (PBS) expenditure, biosimilars have already generated significant savings for Australia’s healthcare system, with $1.03 billion saved through the PBS from 2015 to 2022. An additional $3.87 billion in savings could be generated between 2023 to 2027.
“Our partnership with Samsung Bioepis not only creates greater access to biosimilars but also unlocks PBS savings that can be reinvested into funding innovative medicines for Australian patients. That is why we are proud to strengthen our longstanding relationship with Samsung Bioepis, one of Organon’s key global collaborators”, said Paul Asten, Business Manager for Customer, Trade and Partnerships, Organon ANZ.
