Samsung Bioepis said Monday it has entered into a partnership agreement with Japan's NIPRO Corporation to commercialize various biosimilar products, including the investigational Stelara biosimilar, SB17.

This agreement marks Samsung Bioepis's first collaboration with a local company for its entry into Japan. Under the terms of the deal, Samsung Bioepis will manage product development, production, and supply, while NIPRO will be responsible for sales and commercialization in Japan.

"This partnership agreement marks an important milestone in our entry into the Japanese market," said Kim Kyung-ah, CEO of Samsung Bioepis. "We will work closely with specialized distributors to further expand patient access to high-quality biopharmaceuticals in Japan, where the biosimilar market has great potential."

Since its establishment in 2012, Samsung Bioepis has secured approvals for a total of 11 biosimilar products referencing blockbuster drugs. Last year, the company reported sales of 1.54 trillion won ($1.13 billion).