PR94726

BENGALURU, India, Feb. 28, 2022 /PRNewswire=KYODO JBN/ --

- Immediately Accretive Combination Creates a Unique Global, Vertically

Integrated Biosimilars Leader

    Biocon Biologics Ltd., a subsidiary of Biocon Ltd. (BSE code: 532523) (NSE:

BIOCON), has entered into a definitive agreement with its partner Viatris Inc.

(NASDAQ: VTRS). Accordingly, Biocon Biologics Ltd. (BBL) will acquire Viatris'

biosimilars business to create a unique fully integrated global biosimilars

enterprise. The revenues of this acquired business are estimated to be USD 1

billion next year. Viatris will receive consideration of up to USD 3.335

billion in cash and stock.

    BBL will acquire Viatris' global biosimilars business along with its rights

for the in-licensed portfolio. BBL will realize full revenues and profits from

the acquired business, expanding its EBITDA base and strengthening overall

financials, thus enabling investments for sustained long-term growth. BBL has a

portfolio of 20 biosimilars, and with this integration it will become a world

leading biosimilars player with one of the broadest and deepest pipelines in

the industry.

    This acquisition will accelerate BBL's direct commercialization strategy

for its current and future biosimilars portfolio by providing a direct presence

in U.S., Europe, Canada, Japan, Australia and New Zealand.

    Kiran Mazumdar-Shaw, Executive Chairperson, Biocon Biologics, said: "This

acquisition is transformational and will create a unique fully integrated,

world leading biosimilars enterprise. Our long-standing global partnership with

Viatris has enabled us to achieve many firsts, setting new benchmarks for the

global biosimilars industry. This strategic combination brings together the

complementary capabilities and strengths of both partners and prepares us for

the next decade of value creation for all our stakeholders."

    "The deal will enable BBL to attain a robust commercial engine in the

developed markets of U.S. & Europe and will fast-track our journey of building

a strong global brand. It will also make us future-ready for the next wave of

products. This development takes our partnership with Viatris to the next level

to realize our shared purpose of impacting global health by providing

affordable access to high quality essential and life-saving Biosimilar drugs,"

she added.

    Coury, Viatris' Executive Chairman said: "Our unique collaboration with

Biocon began more than a decade ago, even before a biosimilars pathway was

defined in most countries. During that time, we have experienced many

successes, and today is no exception as we join together to create a new,

uniquely positioned world class vertically integrated biosimilars leader. This

transaction will allow Viatris to continue to participate in the global

biosimilars space in a more optimized way, while also allowing us to accelerate

our own financial priorities."

    The transaction, which is expected to close in H2-2022, will be value

accretive to Biocon and BBL shareholders.

    Kiran Mazumdar-Shaw will continue as Executive Chairperson of BBL; Viatris

to designate Rajiv Malik, President of Viatris, to serve on BBL Board.

    Read more: https://bit.ly/PRP220228

    Presentation: https://bit.ly/BBLAcquViatrisBiosimilars

    Logo: https://mma.prnewswire.com/media/1755682/Biocon_Biocologics_Logo.jpg  

    Video: https://www.youtube.com/watch?v=N6QA6gDw_es

    Source: Biocon Biologics Ltd