Business
Biocon Biologics Completes Acquisition of Viatris' Global Biosimilars Business
Completes the multi-billion-dollar, cash & stock dealCreates a unique, fully integrated, leading global biosimilars enterprise with eight commercialized
About this update from Viatris Inc.
[{"type":"text","content":"Completes the multi-billion-dollar, cash & stock dealCreates a unique, fully integrated, leading global biosimilars enterprise with eight commercialized productsBiocon Biologics will recognize the combined revenue & associated profits from the acquired collaboration biosimilars with immediate effectViatris to provide commercial and other services for up to 2 years to ensure a seamless transition and continued service to patients and customersBENGALURU, India, Nov. 29, 2022 /PRNewswire/ -- Biocon Biologics Ltd., a subsidiary of Biocon Ltd. (BSE code: 532523) (NSE: BIOCON), announced that it has successfully completed its multi-billion-dollar (USD) acquisition of the global biosimilars business of its partner Viatris Inc. (NASDAQ: VTRS).\n\n \n \n \n \n \n \n\n \nBiocon Biologics and Viatris have obtained all applicable approvals from key global regulators, including the U.S. Federal Trade Commission, the Competition Commission of India and the Reserve Bank of India, and its investors.\nEffective from the date of closing, Biocon Biologics will recognize the combined revenue and associated profits from the acquired biosimilars products, a step-up from the existing profit share arrangement.\nThe acquisition provides Biocon Biologics with direct commercial capabilities and supporting infrastructure in the advanced markets and several emerging markets, bringing it closer to patients, customers, and payors.\nVideo Link\nThe integration of Viatris' acquired business and Biocon Biologics' existing capabilities in research and development, global scale manufacturing and commercialization in several emerging markets positions Biocon Biologics as a unique, fully integrated, leading global biosimilars player that is well placed to provide equitable access to high quality, lifesaving biosimilar medicines to patients across the globe. With this acquisition Biocon Biologics emerges as a leading global biosimilars player with eight commercialized products.\nWith the closing of the deal, Biocon Biologics has full ownership of its collaboration assets, bTrastuzumab, bPegfilgrastim, bBevacizumab, bGlargine, bAspart, bPertuzumab and bGlargine 300U, as well as Viatris' rights for the in-licensed immunology products of bAdalimumab and bEtanercept. Biocon Biologics has also exercised the option to acquire Viatris' rights for bAflibercept.\nBiocon Biolo...