Biocon Biologics successfully integrates Viatris biosimilars business

7 Sep 2023 , 10:27 AM

Biocon said on Wednesday that its subsidiary Biocon Biologics has completed the integration of Viatris’ acquired biosimilars business in North America, with effect from September 1, 2023.

Biocon Biologics has executed a rigorous integration strategy to enable a seamless transition of partners, people, systems, and procedures since the acquisition transaction closed in November 2022, according to a regulatory filing.

Biocon Biologics agreed to buy Viatris Inc’s biosimilars business for up to USD 3.33 billion (about Rs 24,990 crore) in February 2022. Later that year, in November, the business completed the transaction.

This will allow Biocon Biologics to continue to make the company’s high-quality biosimilars available to patients, as well as give more accessible and inexpensive solutions to treat diabetes, cancer, and autoimmune disorders, as well as offer products in new therapeutic areas like ophthalmology.

At around 10.24 AM, Biocon Biologics is trading 0.13% higher at Rs 269.75, against the previous close of Rs 269.40 on NSE. The counter touched an intraday high and low of Rs 271.75 and Rs 269.15, respectively.

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