Biocon Biologics announces its intent to acquire the biosimilars business of Viatris
By MYBRANDBOOK
Biocon Biologics Ltd., a subsidiary of Biocon Ltd. has entered into a definitive agreement with its partner Viatris Inc. to acquire its biosimilars business and create a unique fully integrated global biosimilars enterprise.
Viatris will receive consideration of up to USD 3.335 billion, including cash up to USD 2.335 billion and Compulsorily Convertible Preference Shares (CCPS) in BBL, valued at USD 1 billion.
The transaction has been approved by the Board of Directors of both companies.
After the acquisition, BBL will have a comprehensive portfolio comprising its current range of commercialized insulins, oncology and immunology biosimilars as well as several other biosimilar assets currently under development. It also has access to the vaccines portfolio through its previously announced partnership with Serum Institute Life Sciences (SILS).
Kiran Mazumdar-Shaw, Executive Chairperson, Biocon Biologics, said, “This acquisition is transformational and will create a unique fully integrated, world leading biosimilars enterprise. Our long-standing global partnership with Viatris has enabled us to achieve many firsts, setting new benchmarks for the global biosimilars industry. This strategic combination brings together the complementary capabilities and strengths of both partners and prepares us for the next decade of value creation for all our stakeholders.”
Dr Arun Chandavarkar, Managing Director, Biocon Biologics, said, “By combining the biosimilars business of Viatris to create a global, vertically integrated business in BBL, we are confident of unlocking significant value for our stakeholders. This deal gives BBL full ownership of Viatris’ rights in biosimilars assets, enabling us to recognize combined revenues and profits. To ensure a seamless transition and continued service to patients and customers, Viatris will provide commercial and other transition services to BBL for an expected period of two years.”
Robert J. Coury, Viatris’ Executive Chairman said, “Our unique collaboration with Biocon began more than a decade ago, even before a biosimilars pathway was defined in most countries. During that time, we have experienced many successes, and today is no exception as we join together to create a new, uniquely positioned world class vertically integrated biosimilars leader. This transaction will allow Viatris to continue to participate in the global biosimilars space in a more optimized way, while also allowing us to accelerate our own financial priorities.”
Post closure of the deal, BBL will realize the full revenue and associated profits from its partnered products; a step-up from its existing arrangement with Viatris. The deal will expand BBL’s EBITDA base and strengthen overall financials, enabling investments for sustained long- term growth.
BREAKING NEWS
TECHNO TRENDS
Google Pay has added "Open Wallet" shortcut
With the introduction of the "Open Wallet" shortcut, Google Pay has impro...
TRAI targets to finalise National Broadcast Policy by May-end
The Telecom Regulatory Authority of India will finalise the National Broa...
TAC Security becomes Cyber Security Assessor for the App Defen
The cybersecurity company, TAC Security has been selected as a key Cyber ...
InterGlobe’s Rahul Bhatia and C.P. Gurnani together announce
In a move that is set to transform the AI landscape, Rahul Bhatia, Group M...
E-Magazine
TECHNOTAINMENT
Salman Khan trolled for singing with B Praak at Anant Ambani's
To celebrate Mukesh Ambani's youngest son Anant Ambani’s 29th birthday
Disney+ Hotstar wins the Best OTT Platform of the year
Film Critics Guild and Group M Motion Entertainment, in collaboration with
MOVERS & SHAKERS
Nium Appoints Alexandra Johnson appoints as Chief Payments Off
Nium, the leader in real-time cross-border payments, today announced the ap
SISL elevates Ankita Wadhawan as CEO—End User Computing
The IT service provider, SISL in a LinkedIn post announced the elevation
OPEN YOUR EYES
INTERVIEWS
HPE Aruba Networking bridging the physical and digital worlds
The information technology industry is a critical component of the 21st cen
ESDS commits to presenting clients with the latest technology
According to a NASSCOM report, the Indian IT industry experienced its stron
HOT PICK
Dell Technologies launches new AI-powered commercial PC portfo
Dell Technologies has launched the broadest portfolio of commercial AI lap
Canon India Introduces 4K Remote PTZ Camera Controller & 4K In
Canon India, a leading company in digital imaging solutions, further solidi
MAKE IN INDIA BRANDS
TALLY SOLUTIONS PVT. LTD.
AMARA RAJA POWER SYSTEMS LTD.
FINOLEX INDUSTRIES LTD.
SECUREYE SERVICES PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Technology Icons Of India 2023: Rajendra Singh Pawar
Rajendra Singh Pawar is an entrepreneur and businessperson who founded...
Technology Icons Of India 2023: Alok Ohrie
Alok plays a critical role in the Government of India’s Atal Innovat...
Technology Icons Of India 2023: Madhabi Puri Buch
Madhabi Puri Buch is the chairperson of the securities regulatory body...
PARTNER SPEAKERS
PSU
NIC bridging the digital divide and supporting government in eGovernance
The National Informatics Centre (NIC) is an Indian government departme...
CERT-IN protecting the cyber security space of India
CERT-In serves in the area of cyber security threats like hacking and ...
Aadhaar: Architecting the World's Largest Biometric Identity System
The Unique Identification Authority of India (UIDAI) is a statutory au...
VIDEOS
Top 25 Brands
Value-Added Distribution
BEETEL TELETECH LTD.
: Beetel is one of the oldest and most reputed brands in the Industry,...
TECHNOBIND SOLUTIONS PVT. LTD.
TechnoBind’s business model is focused on identifying and partnering...
INTEGRA MICRO SYSTEMS PVT. LTD.
Integra is a leading provider of innovative hi-technology products an...
ITFORUM 2024
WIITF 2024
CMO of the Year
WOMEN LEADERSHIP
EMINENT CIO's OF INDIA
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
