With the closing of the deal, Biocon Biologics has full ownership of its collaboration assets with Viatris, Trastuzumab, Pegfilgrastim, Bevacizumab, Insulin Glargine 100U, Insulin Aspart, Pertuzumab and Insulin Glargine 300U, as well as Viatris’ rights for the in-licensed immunology products of Adalimumab and Etanercept. Biocon Biologics has also acquired Viatris’ rights for Aflibercept, which is used to treat several ophthalmology conditions. Viatris has been the ‘first to file’ Aflibercept in the U.S.
Effective from the date of closing of the deal on November 29, 2022, Biocon Biologics has started recognizing the full value of revenue and associated profits of the acquired business, a step-up from the earlier arrangement.
This acquisition also provides Biocon Biologics greater agility in decision-making and helps improve operational efficiencies in supply chain, capital allocation and distribution.