Biocon Biologics to acquire Viatris’ biosimilars assets for up to $3.335 billion in stock and cash.
Biocon Biologics Ltd., a subsidiary of Biocon Ltd. announced that it has entered into a definitive agreement with its partner Viatris Inc. Accordingly, Biocon Biologics Ltd. (BBL) will acquire Viatris’ biosimilars business to 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 Board of Directors of both companies have approved the transaction.
By integrating Viatris’ portfolio, BBL will have one of the broadest and deepest commercialised biosimilars portfolio in the industry: i. Comprehensive biosimilar insulins portfolio, including rh-Insulin, bGlargine and bAspart; ii. A growing biosimilar oncology portfolio, including bTrastuzumab, bBevacizumab, bPegfilgrastim; iii A significant presence in autoimmune segment through in-licensed products like bAdalimumab, bEtanercept.
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