Biocon Biologics completes acquisition of Viatris global biosimilars business

29 Nov 2022 , 07:13 PM

Biocon Biologics, subsidiary of Biocon announced today that it has successfully completed its multi-billion-dollar (USD) acquisition of the global biosimilars business of its partner Viatris Inc. (NASDAQ: VTRS). 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. 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. Powered by Capital Market – Live News