Biocon shares rose 1% in early trade after prolonging its footprint in developing markets. Its arm Biocon Biologics took over-commercialisation of biosimilars commercial from Viatris in over 70 countries.

Succeeding the deal closure in November 2022, this marks the first wave of countries where Viatris’ procedures have fully transitioned to Biocon Biologics.

Biocon Biologics had signed a contract to acquire Viatris Inc’s biosimilars commercial for $3.33 billion in February 2022.
At 09.23 am, Biocon shares were trading at Rs 259 on the NSE, up 0.6% from the previous close.

Most biosimilar goods commercialised by Viatris in numerous markets have been co-developed with Biocon Biologics and manufactured at its units in India and Malaysia. The varied portfolio covers key beneficial areas of cancer, diabetes, and autoimmune disease.

Biosimilars present a huge opportunity to deliver affordable access to these progressive therapies. “By expanding entree to cost-effective biosimilars, Biocon Biologics seeks to ease the accomplishment of target 3.4 of the UN Sustainable Development Goals SDGs by 2030 by plummeting premature mortality from non-communicable diseases by one-third through prevention and treatment,” the company mentioned in an exchange filing.