Business Standard

Biocon arm plans to acquire Viatris' biosimilars assets; stock falls 8%

The companies will also enter into a transition services agreement. Viatris will provide certain transition services, including commercialization services for an expected 2-years

Biocon Biologics, Serum Institute Life Sciences enter strategic alliance

Deepak Korgoankar Mumbai
Shares of Biocon slipped 8 per cent to Rs 363.45 on the BSE in Monday’s intra-day trade after Biocon Biologics (BBL), the subsidiary of the company, announced to acquire Viatris’ biosimilars assets for up to $3.335 billion in stock and cash.

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

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

First Published: Feb 28 2022 | 10:50 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