The company's arm took over commercialization of biosimilars business from Viatris in over 70 countries.

In February 2022, Biocon Biologics inked an agreement to acquire Viatris Inc's biosimilars business for $3.33 billion.

“Following the deal closure in November 2022, this marks the first wave of countries where Viatris' operations have fully transitioned to Biocon Biologics. A robust integration plan has ensured a seamless transition of partners, people, systems, and processes across these countries,” said the company.

The existing commercialized portfolio of biosimilars, including bTrastuzumab, bPegfilgrastim, bBevacizumab, bGlargine, bAspart, bAdalimumab, and bEtanercept, managed by Viatris in these markets, is now a part of Biocon Biologics' commercial organization.

Biocon stated in the press release, “We will work with existing and new partners to expand our footprint and strengthen our business presence in these countries. Our best-in-class R&D capabilities, high-quality manufacturing, supply chain excellence, and commercial and regulatory expertise will enable us to expand access to a diverse portfolio of biosimilars, meet patients' needs and be a trusted partner to patients and the healthcare community in these markets.”

Shreehas Tambe, CEO & managing director, Biocon Biologics said, “The successful integration of Viatris' biosimilars business to Biocon Biologics in over 70 countries is a significant milestone and marks the beginning of the transition process. Working closely with our partners, Biocon Biologics will now lead commercial operations in these markets and broaden access to patients with our differentiated portfolio of high quality biosimilars.”

Biocon is an innovation-led global biopharmaceuticals company committed to enhance affordable access to complex therapies for chronic conditions like diabetes, cancer and autoimmune. It has developed and commercialized novel biologics, biosimilars, and complex small molecule APIs in India and several key global markets as well as Generic Formulations in the US, Europe & key emerging markets. It also has a pipeline of promising novel assets in immunotherapy under development.

Biocon reported 31% rise in consolidated net profit to Rs 313 crore on a 57% increase in revenue from operations to Rs 3,774 crore in Q4 FY23 over Q4 FY22.