The company has acquired the global biosimilars portfolio of Viatris including Adalimumab. Fujifilm Kyowa Kirin Biologics, the developer of the drug, has concluded an exclusive global marketing license agreement with Biocon Biologics affiliate.

Based on the said agreement, Viatris has completed marketing and promotion of the product as of 15 December 2023, but it will continue to provide transition support until Sandoz will gradually assume responsibilities for the product starting 15 February 2024.

The company said that Sandoz is committed to further strengthening its product pipeline to drive sustainable business growth. The transfer of the distribution rights of this product is part of this strategy, and its addition to the product portfolio will strengthen Sandoz's immunology and biosimilar portfolio.

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’s consolidated net profit surged 167.8% to Rs 125.6 crore in Q2 FY24 as compared with Rs 46.9 crore in Q2 FY23. Revenue from operations jumped 49.26% to Rs 3,462.3 crore in Q2 FY24 as compared with Rs 2,319.7 crore posted in corresponding quarter last year.