Viatris signs agreements with Biocon on $815m stake sale

Viatris has signed definitive agreements for the merchantability of its equity involvement successful Biocon Biologics to Biocon for $815m.

Viatris volition merchantability each of its convertible preferred equity successful Biocon Biologics. The woody worth comprises $415m successful recently issued Biocon equity shares and $400m successful cash.

The recently issued shares volition beryllium listed and traded connected the National Stock Exchange of India. They volition beryllium taxable to a lock-up play of six months, and the wide transaction worth volition beryllium adjusted for applicable taxes.

The agreements besides supply for an earlier extremity to the biosimilars non-compete restrictions that were implemented successful 2022 aft Viatris sold its biosimilars portfolio to Biocon Biologics.

These restrictions volition reason astatine closing for markets extracurricular the US, portion successful the US they volition stay successful effect until November 2026.

The woody is anticipated to beryllium finalised successful the archetypal 4th of 2026, pending the fulfilment of each closing conditions.

Viatris has appointed Citi arsenic its fiscal advisor, with Cravath, Swaine & Moore and Khaitan & Co providing ineligible counsel.

Viatris CEO Scott Smith stated: “Monetising the worth of our equity involvement successful Biocon Biologics and regaining entree to the biosimilars marketplace globally provides important further optionality arsenic we proceed to physique a portfolio of generics, established brands and innovative brands that tin lend to our aboriginal growth.”

Viatris is simply a planetary healthcare institution with operations headquartered successful Pittsburgh successful the US, with further centres successful Hyderabad, India and Shanghai, China.

The institution supplies medicines a cardinal patients worldwide each year, offering a wide portfolio that covers some generics and branded therapies.

It supports healthcare needs, from acute to chronic conditions, done its planetary proviso concatenation and technological expertise.

In October 2024, Lexicon Pharmaceuticals entered into a licensing statement with Viatris, granting the second exclusive rights to commercialise sotagliflozin successful each indications extracurricular the US and Europe.

"Viatris signs agreements with Biocon connected $815m involvement merchantability " was primitively created and published by Pharmaceutical Technology, a GlobalData owned brand.

The accusation connected this tract has been included successful bully religion for wide informational purposes only. It is not intended to magnitude to proposal connected which you should rely, and we springiness nary representation, warranty oregon guarantee, whether explicit oregon implied arsenic to its accuracy oregon completeness. You indispensable get nonrecreational oregon specializer proposal earlier taking, oregon refraining from, immoderate enactment connected the ground of the contented connected our site.