Corporate News 28-Feb-22
Biocon Biologics to acquire Viatris' biosimilars business
For consideration of up to USD 3.335 billion
Biocon Biologics, a subsidiary of Biocon announced today that it has entered into a definitive agreement with its partner Viatris Inc. (NASDAQ: VTRS). Accordingly, Biocon Biologics (BBL) will acquire Viatris' biosimilars business to create a unique fully integrated global biosimilars enterprise. Viatris will receive consideration of up to USD 3.335 billion, including cash up to USD 2.335 billion and Compulsorily Convertible Preference Shares (CCPS) in BBL, valued at USD 1 billion.
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