Biocon subsidiary Biocon Biologics to acquire Viatris’ biosimilar assets

Biocon announced that its subsidiary Biocon Biologics will acquire Viatris’ biosimilar assets for USD 3.335 billion in stock and cash to create a vertically integrated biosimilars leader.  The transaction is expected to close in the second half of 2022, subject to conditions including certain regulatory approvals.  The subject business revenues are expected to be USD1billion in 2023 alone.