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Biocon Ltd.'s subsidiary Biocon Biologics expects the deal with Viatris to close in the second half of the current financial year.

Via this deal, BBL will gain Viatris’ global biosimilars business whose revenues are estimated to be $1 billion next year, along with its portfolio of in-licensed biosimilar assets. This is an important deal for Biocon because it gives the Bengaluru-based company access to Semglee, an insulin brand.

This transaction will accelerate BBL’s direct commercialisation strategy for its current and future biosimilar portfolio. Vitaris has brands such as Lipitor (used for cardiovascular diseases), Xanax (used for anxiety and panic disorders), and Norvasc (used for high blood pressure) among others.In an interaction on Tuesday, October 18, Biocon Biologics' President and Deputy CEO Shreehas Tambe said that the company is on track and progressing well toward deal completion. He refused to share specifics as he said the company is in a window in which they could not divulge further specific details.

The company is recently in the news for signing a strategic out-licensing agreement with Japanese pharmaceutical company Yoshindo Inc. for commercialising two of its pipeline biosimilar assets in the Japanese market.

Biocon Biologics developed and manufactured these biosimilar assets for an addressable market opportunity of about $700 million.

Tambe also said that the company is in talks with Japanese regulators for data on two clinical assets and will look to commercialise the same across different markets.

Biocon Biologics will receive an upfront licence fee as well as additional payments upon achieving certain development milestones over the next few years.

The subsidiary received multiple observations across its production facilities in India and Malaysia from the US Food and Drug Administration (USFDA) in September. The regulator has issued Form 483s with 11 observations each for the two Bengaluru sites and six observations for the Malaysian facility.

Tambe said that the company is working with the FDA to resolve its issues.

First Published:Oct 18, 2022 3:28 PM IST