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Big Deal: Biocon Biologics to buy Viatris biosimilars biz; says deal will turn firm into a biosimilar growth engine

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Big Deal: Biocon Biologics to buy Viatris biosimilars biz; says deal will turn firm into a biosimilar growth engine

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Biocon subsidiary Biocon Biologics' has entered into a definitive agreement with Viatris to acquire the US-based company's biosimilars business. Speaking exclusively to CNBC-TV18, Kiran Mazumdar Shaw, Executive Chairperson of Biocon said the deal will boost Biocon Biologics into a global biosimilar growth engine.

Biocon subsidiary Biocon Biologics' has entered into a definitive agreement with Viatris to acquire the US-based company's biosimilars business.
The deal is worth up to $3.335 billion in stock and cash, said the Biocon arm, which aims to create a unique fully integrated global biosimilars enterprise.
Speaking exclusively to CNBC-TV18, Kiran Mazumdar Shaw, Executive Chairperson of Biocon said the deal will boost Biocon Biologics into a global biosimilar growth engine.
"This is a huge inflection point for us as a company and our biosimilar's business. We always wanted to bolt on a front facing commercial engine for our biosimilars business and this accelerates that process and that is why this transaction makes a lot of sense."
"It has been our aspiration to be a global world beating biosimilars company. This transaction catapults us into global big league. Viatris has been our partners for over a decade and this deal enables us to seamlessly move from our current partnership model into a wholly integrated standalone biosimilars biologics enterprise."
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