BENGALURU: Biocon is betting big on new product launches in its generics and biosimilars portfolios, which are expected to fuel its expansion in the next 2-3 years. The company is leveraging the Viatris acquisition to provide a significant boost towards an integrated biosimilars enterprise model.
This integrated approach encompasses complete oversight of value-generation through development and production, alongside value-realisation through distribution and market deployment. “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,” said Kiran Mazumdar-Shaw, chairperson of the Biocon Group.
Its subsidiary Biocon Biologics completed the acquisition of the global biosimilars business of its partner Viatris. As a part of the transaction, Biocon Biologics issued compulsorily convertible preference shares (CCPS) in the company valued at $1 billion, equivalent to an equity stake of at least 12.9% on a fully diluted basis. It made an upfront cash payment of $2 billion to Viatris. Biocon Biologics crossed $1 billion revenue in FY24.
Biocon Group’s Dec quarter revenue rose Rs 3,821 crore, with performance driven by a double-digit growth of 14% on a year-on-year basis in biosimilars and a return to growth in research services, which grew by 11%.
