ARTICLE
6 December 2022

Biocon Biologics Confirms Completion Of Multi-Billion Dollar Acquisition Of Viatris' Global Biosimilars Business

GP
Goodwin Procter LLP

Contributor

At Goodwin, we partner with our clients to practice law with integrity, ingenuity, agility, and ambition. Our 1,600 lawyers across the United States, Europe, and Asia excel at complex transactions, high-stakes litigation and world-class advisory services in the technology, life sciences, real estate, private equity, and financial industries. Our unique combination of deep experience serving both the innovators and investors in a rapidly changing, technology-driven economy sets us apart.
As we previously reported, Biocon Biologics Ltd. (a subsidiary of Biocon Ltd.) announced its intent to acquire the global biosimilars business of its long-term partner Viatris, Inc.
United States Food, Drugs, Healthcare, Life Sciences

As we previously reported, Biocon Biologics Ltd. (a subsidiary of Biocon Ltd.) announced its intent to acquire the global biosimilars business of its long-term partner Viatris, Inc. This week, Biocon confirmed completion of its acquisition in a part-cash/part-equity transaction. Under the terms of this USD $3.335 billion deal, Biocon paid USD $2 billion up-front in cash, of which $1.2 billion comes from a Sustainability Linked Loan (SLL), making it the largest SLL to pharmaceutical and biomanufacturing companies in the Asia-Pacific region.

Biocon owns 20 biosimilar assets across several therapeutic areas including diabetes, immunology, and cancer, and has commercialized eight biosimilars in Australia, Canada, Europe, Japan, and the U.S. With the acquisition of Viatris, Biocon has now gained full ownership of several biosimilar assets from its prior collaborations with Viatris, including trastuzumab, pegfilgrastim, bevacizumab, insulin glargine, insulin aspart, and pertuzumab. In addition, Biocon now owns rights to a biosimilar aflibercept, as well as rights to Viatris's in-licensed adalimumab and etanercept biosimilars. According to Biocon's press release, the Viatris and Biocon teams will continue to work together over a two year transition period.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

See More Popular Content From

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More