Biocon Biologics acquires US based Viatris

Hyderabad: Biocon Biologics, a subsidiary of Biocon Ltd, announced that it has successfully completed its multi-billion-dollar acquisition of the global biosimilars business of its partner Viatris Inc. Biocon Biologics and Viatris have obtained all applicable approvals from key global regulators including the US Federal Trade Commission, the Competition Commission of India and the Reserve Bank of India, and its investors. Effective from the date of closing, Biocon Biologics will recognize the combined revenue and associated profits from the acquired products, a step-up from the existing profit share arrangement.

Kiran Mazumdar-Shaw, Executive Chairperson, Biocon Biologics, said: "The completion of the acquisition of Viatris' global biosimilars business is a historic inflection point in Biocon Biologics' journey of becoming a world leading, fully integrated biosimilars enterprise, committed to serve patients' needs for affordable access to essential biomedicines. It will fast-track our direct entry into several advanced and emerging markets."

She added: "This acquisition builds on our decade-long partnership and will enable us to realize our vision of addressing global health inequities. I believe this move will strengthen our value proposition to deliver long-term value to Biocon and Biocon Biologics shareholders. To ensure seamless continuity of services to patients and customers, Viatris will continue to work with our teams for a transition period of up to two years."