Biocon Biologics Completes Acquisition of Viatris’ Global Biosimilars Business

Biocon Biologics Ltd., a subsidiary of Biocon Ltd. announced today that it has successfully completed its multi-billion-dollar (USD) acquisition of the global biosimilars business of its partner Viatris Inc.

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.

Effective from the date of closing, Biocon Biologics will recognize the combined revenue and associated profits from the acquired products, a step-up from the existing profit share arrangement.

Strategic Rationale

The acquisition provides Biocon Biologics with direct commercial capabilities and supporting infrastructure in the advanced markets and several emerging markets, bringing it closer to patients, customers, and payors.

The integration of Viatris’ acquired global biosimilars business and Biocon Biologics’ existing capabilities in research and development, global scale manufacturing and commercialization in several emerging markets positions Biocon Biologics as a unique, fully integrated, leading global biosimilars player that is well placed to provide equitable access to high quality, lifesaving biosimilar medicines to patients across the globe. With this acquisition Biocon Biologics emerges as a world leading biosimilars player with eight commercialized products.

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. 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.

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.”

The acquisition of Viatris’ global biosimilars business is unique as it cements the long- standing strategic partnership between the two companies, who have been successfully collaborating for more than a decade. As a unique, fully integrated organization driven by a common purpose, Biocon Biologics aspires to expand access and enhance the quality of experience of customers, partners and patients.