Biocon Biologics wraps up $3.3bn acquisition of Viatris biosimilars unit
Biocon said that its subsidiary Biocon Biologics has wrapped up the previously announced $3.3 billion acquisition of the biosimilars business of US-based pharma company Viatris.
The deal, which was announced in February 2022, closed after Biocon Biologics and Viatris secured all the required approvals from major global regulators such as the US Federal Trade Commission (FTC), the Competition Commission of India (CCI), and the Reserve Bank of India (RBI), as well as the companies’ investors.
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.”
Biocon Biologics wraps up $3.3bn acquisition of Viatris biosimilars unit. Photo courtesy of Pamri/Wikimedia Commons.
According to Biocon, the acquisition gives direct commercial capabilities and supporting infrastructure to Biocon Biologics in advanced markets and various emerging markets.
Biocon Biologics is expected to transform into a fully integrated global biosimilars enterprise with eight commercialized products.
With the deal closed, the Biocon subsidiary has gained 100% ownership of its collaboration assets — bTrastuzumab, bBevacizumab, bPegfilgrastim, bAspart, bGlargine, bGlargine 300U, and bPertuzumab along with Viatris’ rights for the in-licensed immunology products bEtanercept and bAdalimumab.
Besides, Biocon Biologics has acquired the rights of Viatris for bAflibercept, which is indicated in the US for the treatment of various ophthalmology conditions.
Kiran Mazumdar-Shaw — Biocon Biologics Executive Chairperson 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.”