To further strengthen its leadership position in the global biosimilars industry and provide complete end-to-end capabilities to patients and customers, Biocon Biologics recently acquired the global biosimilars business of its long-term partner Viatris.

Since the agreement closed in November 2022, BBL has executed an integration plan to ensure a seamless transition of partners, people, systems, and processes, the company stated.

Shreehas Tambe, CEO & managing director, Biocon Biologics, said, “Our successful North America transition marks the second wave of our integration of the Viatris biosimilars' business, quickly following Emerging Markets and ahead of schedule. We will now be leading the commercial operations in the United States and Canada as a global business.

This will further enable Biocon Biologics to continue to expand the availability of our high-quality biosimilars to patients and provide more accessible and affordable options to treat diabetes, cancer, and autoimmune diseases as well as offer products in new therapeutic areas such as ophthalmology.”

As a result of the completion of this integration, BBL is expected to grow its employee population to over 150 employees in North America by the end of the year, said the company.

Biocon is an innovation led global biopharmaceuticals company, engaged in the production of 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.

The company reported 30% decline in consolidated net profit to Rs 101 crore in Q1 FY24 from Rs 144 crore in Q1 FY23. Consolidated revenues for Q1 FY24 grew 59% YoY to Rs 3,516 crore.

Shares of Biocon rose 0.61% to Rs 271 on the BSE.