Biocon Biologics completes integration of Viatris biosimilars business

Since the acquisition agreement closed in November 2022, Biocon Biologics has executed a robust integration plan to ensure a seamless transition of partners, Biocon said

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

Since the acquisition agreement closed in November 2022, Biocon Biologics has executed a robust integration plan to ensure a seamless transition of partners, people, systems, and processes, Biocon said in a regulatory filing.

In February 2022, Biocon Biologics had inked a pact to acquire Viatris Inc's biosimilars business for a consideration of up to USD 3.33 billion (about Rs 24,990 crore).

Later, in November same year the company completed the acquisition.

"Our successful North America (US and Canada) transition marks the second wave of our integration of the Viatris biosimilars' business, quickly following Emerging Markets and ahead of schedule," Biocon Biologics CEO & Managing Director Shreehas Tambe said.

He further said the company would be leading the commercial operations in the US and Canada as a global business.

"This will further enable Biocon Biologics to continue to expand the availability of our high-quality biosimilars to patients and provide more accessible and affordable options to treat diabetes, cancer, and autoimmune diseases as well as offer products in new therapeutic areas such as ophthalmology," Tambe added.