Biocon is making significant strides in generics and biosimilars, expecting these segments to drive its growth over the next two to three years.
The company is capitalizing on its acquisition of Viatris to strengthen its integrated biosimilars enterprise model.
This approach ensures complete control over value generation through development and production while optimizing value realization through distribution and market deployment.
Strengthening Market Presence in the US
It has established a strong foothold in the US biosimilars market, thanks to its experienced and dedicated team.
“Being a fully integrated biosimilars company has positioned us favourably with payers, PBMs (pharmacy benefit managers), and HMO (health maintenance organization) sectors. We are India’s leading biosimilars company and are building Brand globally. Achieving over 20% market share for some products in the US is a significant milestone,” said Kiran Mazumdar-Shaw, chairperson of the Biocon Group.
Viatris Acquisition Boosts Growth
Biocon Biologics, a subsidiary of Biocon, successfully acquired Viatris’ global biosimilars business. Biocon Biologics issued compulsorily convertible preference shares (CCPS) valued at $1 billion as part of the deal. These shares represent at least a 12.9% equity stake on a fully diluted basis. Additionally, it made an upfront cash payment of $2 billion to Viatris.
Achieving a $1 Billion Revenue Milestone
As reported by msn.com, Biocon Biologics surpassed $1 billion in revenue in FY24 with this acquisition and strategic expansion. This marks a major milestone in its journey toward becoming a global biosimilars leader.
