Biocon Biologics has signed an agreement to acquire Viatris Inc’s biosimilar business for Rs 24,990 crore to become a fully integrated global biosimilars company.
Biocon Biologics IPO: Biocon Executive Chairperson Kiran Majumder Shaw says Biocon will apply for an initial public offering (IPO) of its partner Biocon Biologics within two years. Biocon Biologics aims to be a fully integrated global biosimilar. The company is worth Rs 24,990 crore. Has signed an agreement to acquire its biosimilar business.
Will set the standard for the next decade
“We are ready to take our biosimilar journey to the next level,” Majumdar Shaw said in an online press briefing, according to a report by LiveMint. The acquisition of Viatris Inc.’s biosimilar business is an important step towards building an integrated global biosimilar company and creating value for all our shareholders for decades to come. With this new structure, we expect Biocon Biologics to IPO in the next two years. ”
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$ 8 billion valuation with new contract
At the time of the last round of funding, Biologics’ business was valued at $ 4.9 billion, and with the new deal, it must have been $ 8 billion, said Biocon’s executive chairperson. Majumdar-Shaw said, “Of course, we hope the IPO will be very attractive. If you look at it, it’s going to create a huge value for shareholders. “
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What was said about the acquisition of Vyatris
The acquisition of Viatris will help Biocon Biologics become a global leader in integrated biosimilars, Biocon Chairperson said. He said the Viatris deal would make the company one of the largest biosimilar portfolio companies in the industry.
“This transaction will strengthen the direct commercialization strategy for our existing biosimilar portfolio. It will prepare us for new products, as well as accelerate our journey to become a strong global brand. “
Majumdar-Shaw said the acquisition would enable Biocon Biologics to bridge its potential in advanced markets, particularly in the supply chain and commercialization. “Our long-term relationship with biologists will help us make the most of this transaction,” he added.