Biocon Unveils Plan to Merge Biocon Biologics by 2026

Biocon Limited has unveiled a major shift. It confirmed plans to fully integrate Biocon Biologics as a wholly owned subsidiary once regulatory and shareholder approvals are cleared.

The move marks a pivotal moment for the company as it prepares to streamline operations and sharpen its global biopharma focus.

A Governance Council led by Executive Chairperson Kiran Mazumdar-Shaw will guide the transition, supported by a Transition and Integration Management Committee headed by Shreehas Tambe, CEO and Managing Director of Biocon Biologics and Kedar Upadhye will assume the role of Chief Financial Officer. Siddharth Mittal will transition to a broader leadership role within the Biocon Group.

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Under the proposed structure, Biocon will acquire remaining BBL shares held by Serum Institute Life Sciences, Tata Capital Growth Fund II, and Activ Pine LLP through a stock swap of 70.28 Biocon shares for every 100 BBL shares, valuing the unit at USD 5.5 billion.

The company will also buy Viatris’ remaining stake for USD 815 million, splitting payment between USD 400 million in cash and a share exchange of 61.70 Biocon shares per 100 BBL shares. EY independently determined all valuation ratios.

Kiran Mazumdar-Shaw stated, “Bringing Biocon Biologics fully under Biocon marks a transformational milestone for our company. The combined capabilities in biosimilars and generics will provide a differentiated offering across major global markets and enable us to better serve patients, especially in diabetes, oncology and immunology.”