India Pharma Outlook Team | Monday, 08 December 2025
Viatris is set to sell its stake in Biocon Biologics, a move that could reshape its position in the global pharmaceutical market.
Under the definitive agreement, Viatris will transfer its entire convertible preferred equity in Biocon Biologics to Biocon for a total of $815?million — including $400?million in cash and $415?million in newly issued equity shares of Biocon Limited, which will be listed on the National Stock Exchange of India.
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"This agreement is another important step in Viatris' evolution. Monetizing the value of our equity stake in Biocon Biologics and regaining access to the biosimilars market globally provides significant additional optionality as we continue to build a portfolio of generics, established brands and innovative brands that can contribute to our future growth,” said Scott A. Smith, chief executive officer, Viatris.
The deal also accelerates the expiration of biosimilars non?compete restrictions set during Viatris’ 2022 sale of its biosimilars portfolio. At closing, ex?US restrictions will end immediately, while US-market restrictions will expire in November 2026.
The transaction is expected to close in Q1 2026, subject to customary conditions and related taxes. This strategic move gives Viatris both financial liquidity and a renewed path into the global biosimilars market, strengthening its portfolio of generics and innovative brands.
