Samsung Bioepis's biosimilar sales in Europe hit quarterly high

SEOUL, April 25 (Yonhap) -- South Korean drugmaker Samsung Bioepis Co. said Thursday that its first-quarter sales in Europe hit a record high of US$174 million on a quarterly basis on the back of strong demand. The joint venture between Samsung Biologics and U.S-based Biogen Inc. said the sales of its three biosimilar products in the January-March period were the largest ever for a quarterly period since the company was launched in 2012. Biosimilars are approved copies of existing drugs that are manufactured after the original patents expire. The pharmaceutical company said sales of Benepali, Flixabi and Imraldi shot up 12 percent from the $156 million recorded in the fourth quarter of 2018. Imraldi was released in October last year. Of the three, Samsung Bioepis said sales of Benepali, a biosimilar based on Enbrel, developed by U.S.-based Amgen Inc., reached $124 million for a gain of 3 percent on-year. The drug is used in the treatment of rheumatoid arthritis, psoriatic arthritis and axial spondyloarthritis. The company said sales of Flixabi, used to relieve rheumatoid arthritis, Crohn's disease and ulcerative colitis, more than doubled from a year earlier to $14.7 million. The drug was originally developed by Janssen Pharmaceutica. Samsung Bioepis also said sales of Imraldi shot up 112 percent from the previous quarter to $35.7 million and that it controlled a 7 percent share of the European market in February. Imraldi is a copy of a drug made by AbbVie Inc. and is used to combat various immune diseases. "Consistent demand for Benepali, coupled with sharp growth for the other drugs is expected to help Samsung Bioepis enhance its market presence in Europe going forward," a company source said. yonngong@yna.co.kr (END)