Integration of Biocon Biologics with Viatris biosims moves ahead

Indian drugmaker Biocon (BSE: 532523) says that its subsidiary Biocon Biologics has completed the integration of the acquired biosimilars business in over 70 countries in emerging markets effective July 1, 2023, ahead of schedule, increasing the scale and scope of its business.

In February last year, Biocon Biologics agreed to buy the biosimilars unit of Viatris (Nasdaq: VTRS) for $3.3 billion. The company had earlier guided for two yeas for the whole transition to be completed.

Following the deal closure in November 2022, this marks the first wave of countries where Viatris’ operations have fully transitioned to Biocon Biologics. A robust integration plan has ensured a seamless transition of partners, people, systems, and processes across these countries, the company noted.