Biocon Biologics takeover Viatris’ biosimilar business in over 70 countries

6 Jul 2023 , 11:38 AM

Biocon Biologics Ltd (BBL), a subsidiary of Biocon Ltd led by Kiran Mazumdar Shaw, announced on Wednesday that it completed the integration of the acquired biosimilars business in over 70 countries. According to the company, this agreement will go into effect on July 1, 2023.

After closing the deal in November 2022, Viatris’ operations have been fully transitioned to Biocon Biologics. A solid integration strategy ensured a smooth transition of partners, people, systems, and processes across these countries.

The company said that it will work with existing and new business partners to expand its footprint and bolster its business in these countries.

Biocon Biologics’ existing commercialized portfolio of biosimilars includes bTrastuzumab, bBevacizumab, bGlargine, bPegfilgrastim, bAspart, bAdalimumab, and bEtanercept.

The company believes that its best-in-class R&D capabilities, manufacturing, supply chain, and commercial and regulatory expertise will allow it to expand access to a diverse portfolio of biosimilars and better meet the needs of patients.

Shreehas Tambe, CEO & Managing Director of Biocon Biologics said, “Working in association with our partners, Biocon Biologics will now lead commercial operations in these markets and will widen access to patients with the company’s distinct portfolio of biosimilars of high quality.”

At around 11.29 PM, Biocon Biologics was trading 1.18% higher at Rs 260.70, against the previous close of Rs 257.65 on NSE. The counter touched an intraday high and low of Rs 260.90 and Rs 257.65, respectively.

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