Biocon Biologics acquires Viatris' biosimilars business in $3.3 bn deal
- Press Information Bureau
- February 28, 2022
Biocon Biologics, a Biocon subsidiary, announced on Monday that it will pay US$ 3.3 billion in cash and stock for Viatris' biosimilars business. Viatris would get US$ 2 billion in cash at the close of the sale, with up to US$ 335 million in additional payments expected in 2024.
Ms. Kiran Mazumdar-Shaw, Executive Chairperson, Biocon Biologics (BBL), said: “This acquisition is transformational and will create a unique fully integrated, world-leading biosimilars enterprise." BBL will acquire Viatris' global commercial infrastructure in developed and emerging markets, as well as its global biosimilars business, which is expected to generate US$ 875 million in revenue and US$ 200 million in EBITDA in fiscal year 2022, with revenue expected to exceed US$ 1 billion next year.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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