On 6 December 2025, Biocon Limited announced that Biocon Biologics will be integrated into it, becoming a wholly owned subsidiary of the company upon completion of the transaction, expected to occur by 31 March 2026.
Under the proposed transaction, Biocon Limited will acquire the minority stakes in Biocon Biologics currently held by Serum Institute Life Sciences, Tata Capital Growth Fund II and Activ Pine LLP, through a share swap of 70.28 Biocon shares for every 100 Biocon Biologics shares, reportedly valuing Biocon Biologics at USD 5.5 billion. Biocon will also acquire the residual stake held by Mylan Inc (Viatris) for USD 815 million, with a capital raising of USD 500 million through Qualified Institutional Placement approved by Biocon Limited’s Board (subject to shareholder approval) to help fund that acquisition.
According to Biocon, the integration will strengthen Biocon’s global position “to lead in key therapeutic areas” of diabetes, oncology and immunology. In particular, Biocon considers that it is “uniquely poised to address the rapidly expanding ‘diabesity’ market” as the “only company operating globally with both biosimilar insulins and generic versions of complex peptides, including GLP-1s”. Biocon’s Semglee® was the first biosimilar approved in the Unites States as interchangeable to Sanofi’s Lantus® (insulin glargine) (July 2021).