Viatris sells global biosimilars business to Biocon Biologics for USD 3 billion

The acquisition provides Biocon Biologics with direct commercial capabilities and supporting infrastructure in the advanced markets and several emerging markets. 

With 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 acquired Viatris' rights for bAflibercept, which is used to treat several ophthalmology conditions. Viatris has been the 'first to file' bAflibercept in the U.S. Biocon Biologics has a unique portfolio of 20 biosimilar assets, including insulins and monoclonal antibodies spanning therapy areas such as diabetes, oncology, immunology, and ophthalmology. 

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."