New Delhi- Biocon Biologics announced on Monday that it will acquire Viatris’ global biosimilars business, including their rights in the partnership-licensed portfolio.
The company is making the acquisition for up to $3.335 billion in stock and cash.
The company said the acquisition will give it access to Viatris’ business engine in both developed and emerging markets and will be accretive.
In addition, BBL will gain access to Viatris’ global biosimilars business estimated at $1 billion in revenue next year.
This transaction accelerates BBL’s direct commercialization strategy for its current and future portfolio of biosimilars.
In addition, Viatris is to provide business and other transition services for an expected period of two years to ensure continuity of customer service and a smooth transition to BBL.
“This acquisition is transformational and will create a unique, fully integrated, world-leading biosimilars business. Our longstanding global partnership with Viatris has allowed us to achieve many firsts, setting new benchmarks for the global biosimilars industry,” said Kiran Mazumdar-Shaw, Executive Chairman, Biocon Biologics.
“This strategic combination brings together the complementary capabilities and strengths of both partners and prepares us for the next decade of creating value for all of our stakeholders.”
Additionally, she said the deal will enable BBL to achieve a robust business engine in the developed markets of the United States and Europe and accelerate the company’s journey towards building a strong global brand.
“It will also prepare us for the future for the next wave of products. This development takes our partnership with Viatris to the next level to achieve our shared goal of impacting global health by providing affordable access to biosimilar medicines. high quality essentials and vitals.(IANS)