Biocon's Ambitious Expansion in Generics and Biosimilars

Biocon is setting its sights on significant growth through the launch of new products in its generics and biosimilars portfolios. This strategic move is anticipated to drive the company's expansion over the next 2-3 years, leveraging the recent Viatris acquisition to enhance its integrated biosimilars enterprise model.

The company's integrated approach ensures comprehensive control over value generation, from development and production to distribution and market deployment. Kiran Mazumdar-Shaw, chairperson of the Biocon Group, emphasizes the strength of their position in the US market, highlighting the company's commitment to biosimilars and its growing brand presence globally.

Financial Milestones and Market Penetration

Biocon Biologics, a subsidiary of Biocon, has achieved a significant milestone by completing the acquisition of Viatris's global biosimilars business. This transaction involved the issuance of compulsorily convertible preference shares valued at $1 billion and an upfront cash payment of $2 billion, marking a pivotal moment in Biocon's financial and market expansion strategies.

The Biocon Group's revenue for the December quarter reached Rs 3,821 crore, showcasing a robust year-on-year growth of 14% in biosimilars and an 11% growth in research services. This financial performance underscores Biocon's successful penetration and competitiveness in the biosimilars market.