Biocon aims to expand its business in the next few years by launching new generic and biosimilar products, ToI reported. The company’s recent acquisition of Viatris’ biosimilars business is key to this strategy, creating a fully integrated model. This model controls the entire process, from development and production to distribution and sales.
Biocon Biologics, a Biocon subsidiary, now owns Viatris’ global biosimilars business. The deal involved a $2 billion cash payment and $1 billion in convertible preference shares, giving Viatris an equity stake of at least 12.9%. Biocon Biologics exceeded $1 billion in revenue in fiscal year 2024.
The Biocon Group’s revenue for the December quarter increased to Rs 3,821 crore. This growth was fueled by a 14% year-over-year increase in biosimilars and an 11% rise in research services.
Kiran Mazumdar-Shaw, chairperson of the Biocon Group, stated: “We have an experienced and committed team in the US which is focused strongly on biosimilars. And the fact that we are now a fully integrated biosimilars company has enabled us to position ourselves in a strong position with the payers, the PBMs (pharmacy benefit managers) and HMO (health maintenance organisation) sectors. We are India’s premier biosimilars company and we are making a brand presence in the global markets. We are building Brand Biocon and getting a 20% plus market share in the US for some products is significant.”
(with ToI inputs)