Samsung Bioepis is accelerating its entry into the European market with the launch of its ophthalmology treatment 'Ofuviz' (active ingredient: Aflibercept). This move marks a strategic expansion beyond its existing biosimilar business focused on autoimmune and rare diseases into the ophthalmology sector.
On May 31, Samsung Bioepis announced the launch of the low-concentration formulation (40mg/mL) of 'Ofuviz' in Europe. Ofuviz is a biosimilar to Regeneron's blockbuster ophthalmology drug 'Eylea,' used for treating eye diseases such as wet age-related macular degeneration. It works by binding to vascular endothelial growth factor (VEGF) to inhibit the formation of abnormal blood vessels.
This launch is seen as a significant step in strengthening Samsung Bioepis's presence in the European ophthalmology market. Earlier this year, the company introduced the biosimilar 'Byooviz' (active ingredient: Ranibizumab) in Europe, further expanding its portfolio of ophthalmology treatments.
Market analysts view Samsung Bioepis as having evolved into a biopharmaceutical company capable of managing the entire cycle of development, clinical trials, approval, and sales.
The company's performance supports this trend. In the first quarter of this year, Samsung Bioepis reported revenues of 454.9 billion won and an operating profit of 144 billion won, representing increases of 14% and 13%, respectively, compared to the same period last year. This growth is attributed to the expansion of global biosimilar sales, which has led to improved revenue and profitability.
The first results since the establishment of its holding company have also been positive. Samsung Epise Holdings recorded consolidated revenues of 453.9 billion won and an operating profit of 90.5 billion won in the first quarter, successfully turning a profit. Samsung Epise Holdings was established in November of last year through the spin-off of Samsung Biologics and operates Samsung Bioepis as a wholly-owned subsidiary while pursuing biotechnological platforms and future new businesses through a newly created subsidiary.
Linda Choi, Vice President of Samsung Bioepis's Commercial Division, stated, "With the launch of Ofuviz in Europe, we can provide various treatment opportunities for patients with ophthalmic diseases. We will continue to address unmet needs through biosimilars and contribute to enhancing social value, including reducing health insurance costs."