Biocon Biologics Ltd (BBL), a subsidiary of Biocon Ltd , on September 6 announced that the company has completed the integration of the acquired biosimilars business from Viatris in North America (United States and Canada) effective September 1, 2023. Biocon Biologics recently acquired the global biosimilars business of its long-term partner Viatris to further strengthen its leadership position in the global biosimilars industry and provide complete end-to-end capabilities to patients and customers. After the deal was finalized in November 2022, Biocon Biologics has executed a robust integration plan to ensure a seamless transition of partners, people, systems, and processes.
“Our successful North America transition marks the second wave of our integration of the Viatris biosimilars’ business, quickly following Emerging Markets and ahead of schedule,” said Shreehas Tambe, CEO & Managing Director, Biocon Biologics Ltd in a press statement. In the Apr-Jun quarter of the fiscal year, Biocon’s biosimilar division emerged as the driving force behind its top-line expansion. Revenues from this segment experienced a twofold increase compared to the previous year. This remarkable performance can be attributed to three pivotal biosimilar products that substantially expanded their market presence in the United States. The substantial uptick in biosimilar sales facilitated a noteworthy 60 percent surge in the company’s top-line figures.
Serving over 5.7million patients annually, Biocon Biologics has a comprehensive portfolio of in-market and in-development biosimilar across multiple therapies, including four in the United States and six in Canada, with a robust pipeline of 20 biosimilar assets, including insulins and monoclonal antibodies spanning multiple therapy areas. “With this exciting milestone, we are providing patients, customers, and healthcare providers in North America with deep expertise, commitment, and continual investment to advance biosimilars throughout the entire value chain from innovation to ensuring a robust global supply,” Matthew Erick, Chief Commercial Officer – Advanced Markets, Biocon Biologics Ltd, said in a statement.
Source: MONEY CONTROL