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Biocon Biologics to acquire Viatris’ Biosimilars assets for up to USD3.335bn

Goodwin’s London Life Sciences and New York M&A teams have advised Biocon Biologics Ltd in its agreement to acquire Viatris Inc’s global biosimilars business to create a fully integrated global biosimilars enterprise.

Goodwin’s London Life Sciences and New York M&A teams have advised Biocon Biologics Ltd in its agreement to acquire Viatris Inc’s global biosimilars business to create a fully integrated global biosimilars enterprise.

Viatris will receive consideration of up to USD3.335 billion, including cash up to USD2.335 billion plus stock in BBL valued at USD1 billion. 

The transaction is expected to close in in the second half of 2022, subject to satisfaction of closing conditions (including certain regulatory approvals). 

The companies will also enter into a Transition Services Agreement at closing, pursuant to which Viatris will provide certain post-closing transition and commercialisation services for an expected two-year period. Viatris also will pay USD50 million to BBL to fund certain capital expenditures relating to manufacturing. 

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