Bengaluru: Biocon Biologics Ltd., a subsidiary of Biocon Ltd. announced tuesday that it has successfully completed its multi-billion-dollar (USD) acquisition of the global biosimilars business of its partner Viatris Inc. (NASDAQ: VTRS) , The bengaluru- based company said in a statement.
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 acquisition provides biocon biologics with direct commercials capabilities and supporting infrastructure in the advanced markets and several key emerging markets, also bringing it closer to patients, customers, and payors.An ‘end to end’ integrated biosimilars organization, biocon biologics aspires to expand access and enhanced the quality of experience of cutomers, partners and patients.
Kiran Masumdar-Shaw, Executive Chairperson, Biocon Biologics said in her statement “ The completion of the acquisition of Viatris’ global biosimilars business is a historic inflection point in Bicon 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 out 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”.
Rajiv Malik, President of Viatris, has joined the Board of Directors of Biocon Biologics Ltd, effective Nov 29, 2022. Kiran Mazumdar-Shaw will continue as the Executive Chairperson of Biocon Biologics Ltd.
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. With one of the broadest and deepest biosimilar portfolios in the industry, Biocon Biologics can make a meaningful difference to patients’ lives and deliver significant savings to healthcare systems around the world.
