Business Standard

Biocon Biologics acquires Viatris' biosimilars business in $3.3 bn deal

BBL will also obtain Viatris' rights in all biosimilars assets, including its in-licensed portfolio and an option to acquire Viatris' rights in bAflibercept


The Board of Directors of both companies have approved the transaction

Deepsekhar Choudhury Bengaluru
Biocon Biologics, a subsidiary of Biocon, announced on Monday that it will acquire Viatris’ biosimilars business in a $3.3 billion cash and stock deal.

Viatris will receive cash consideration of $2 billion on closing of the transaction and up to $335 million as additional payments expected to be paid in 2024. Additionally, upon closing of the transaction, BBL will issue $1 billion of compulsorily convertible preference shares (CCPS) to Viatris, equivalent to an equity stake of at least 12.9 per cent in the company, on a fully diluted basis. 

The Board of Directors of both companies have approved the transaction. 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 28 2022 | 12:55 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to