Biocon Biologics buys biosimilars business of Viatris for $3.3 billion

28 February 2022

Biocon (BSE: 532523) subsidiary Biocon Biologics has agreed to buy the biosimilars unit of Viatris (Nasdaq: VTRS) for $3.3 billion.

The agreement includes a cash payment of over $2 billion as well as shares in Biocon Biologics valued at $1 billion.

The Indian company, which currently has a portfolio of 20 biosimilars, will significantly strengthen its position in the affordable medicines space, with new interests in diabetes, oncology and immunology.

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