South Korean drug manufacturer Samsung Bioepis will be launching its second biosimilar product, Renflexis, in Korea at 363,530 won ($315) per box.

Its price is about 5 percent cheaper than Remicade -- a product made by Janssen that provided the reference for Renflexi -- but similar to rival Celltrion’s Remsima.

Renflexis will hit local markets in June, according to MSD Korea, which is responsible for the marketing and distribution of Renflexis. The drug was approved by the Korean Ministry of Food and Drug Safety early last December.

Renflexis will be prescribed to patients suffering from illnesses such as rheumatoid arthritis, Crohn’s disease and ulcerative colitis. 

Biosimilars are replications of biologics that have lost patent protection. They are sold at prices lower than the original drugs.

Renflexis is the second biosimilar created by Samsung Bioepis, which was established in 2012. 

In 2015, the company received approval for its first drug Brenzys, a biosimilar version of Enbrel (Etanercept). Brenzys has also been approved by the European Medicines Agency, and is sold in Norway and the U.K.

By Won Ho-jung (hjwon@heraldcorp.com)