Samsung Biologics will complete the spin-off of its Contract Development and Manufacturing Organization (CDMO) business and biosimilar business on November 1. Trading of Samsung Biologics' shares will be suspended from October 30 to November 21, and the newly established Samsung Epis Holdings is expected to be relisted on November 24.

Samsung Biologics announced on the 17th that it held an extraordinary general meeting of shareholders and approved the spin-off agenda. The extraordinary general meeting, held at Songdo Convensia in Yeonsu-gu, Incheon, lasted about 20 minutes from 9 a.m., with 93% of the total shares present, and the 'approval of the spin-off plan' was passed with 99.9% in favor.

With the passage of the agenda, the investment division within Samsung Biologics will be spun off, and a new corporation, Samsung Epis Holdings, will be established. Samsung Biologics will remain as the surviving entity, maintaining its existing CDMO business. The newly established Samsung Epis Holdings will succeed 100% of the shares in Samsung Bioepis, which operates the biosimilar business, and will be responsible for managing subsidiaries and new investments, including the newly established subsidiary.

Existing shareholders of Samsung Biologics will receive shares in both Samsung Biologics and Samsung Epis Holdings at a ratio of 0.65 to 0.35. The spin-off date is set for November 1, with a trading suspension period from October 30 to November 21, followed by the relisting and relaunch of Samsung Epis Holdings on November 24.

Through this spin-off, Samsung Biologics aims to resolve the conflict of interest concerns raised by clients regarding the biosimilar business and expand its global CDMO business. Prior to the spin-off, Samsung Bioepis, which operates the biosimilar business, was a subsidiary of Samsung Biologics, leading to concerns from clients entrusting the CDMO business despite being separate operations.

John Rim, CEO of Samsung Biologics, stated, "This spin-off will allow each business, CDMO and biosimilar, to be properly evaluated for its intrinsic value in the capital market."

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