Biocon Biologics Ltd., a subsidiary of Biocon Ltd., announced that it has successfully completed its multi-billion-dollar (USD) 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 U.S. Federal Trade Commission, the Competition Commission of India and the Reserve Bank of India, and its investors, the statement said.
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, a statement said.
The 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.
The integration of Viatris’ acquired global biosimilars 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 world leading biosimilars player with eight commercialized products, according to the statement.
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. 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. I would like to thank the teams at both Biocon Biologics and Viatris that have worked together to address regulatory and statutory requirements to enable deal closure,” she added.
Robert J. Coury, Viatris’ Executive Chairman, said: “I am extremely pleased to have reached this monumental moment for Biocon Biologics. As a significant shareholder in Biocon Biologics, we are committed to ensuring the long-term success of the company and maximizing the value of what we are building together – a new world-class, fully integrated biosimilars leader.”
Post conclusion of the Viatris and Serum transactions, Biocon Limited’s stake in Biocon Biologics will be 68%.
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