Hanmi Pharmaceutical and Samsung Bioepis are diving into the race for affordable osteoporosis treatments, sealing a joint sales agreement for Bioepsis’ Prolia biosimilar SB16 (denosumab). 

The deal comes as Celltrion cuts the price of its own Prolia biosimilar, Stoboclo, by 28 percent.

The deal, signed Tuesday at Hanmi’s headquarters, paves the way for a competitive launch in Korea’s 174.9 billion-won ($123.3 million) osteoporosis market, according to IQVIA. Samsung Bioepis has already gained approvals for SB16 in the U.S. and Europe, with regulatory clearance pending in Korea.

“Better to prepare early,” a spokesperson at Samsung Bioepis said, pointing to the company’s track record of securing partnerships before approvals, such as $370 million deal with Biogen in 2019 for the SB15 aflibercept biosimilar, a copy of Regeneron’s Eylea.

Details on pricing and branding are still under wraps due to the ongoing regulatory review. Samsung Bioepis will handle development and supply, while both companies will manage marketing and sales.