Biocons subsidiary completes integration of Viatris biosimilars business; stock rises
Biocon share price: At around 10:42 a.m., Biocon shares were up 1.51 per cent, or Rs 3.6, at Rs 242.05 apiece on BSE. The market capitalisation of the company stood at Rs 29,060.52 crore at around the same time.
Biocon share price: Biocon shares on Friday, December 1, rose over 2 per cent to touch the intra-day high of Rs 245 apiece on BSE, rising for the third session in a row. The stock climbed a day after the Bengaluru-based pharmaceutical company's subsidiary completed the integration of Viatris’ Biosimilar business.
At around 10:42 a.m., Biocon shares were up 1.51 per cent, or Rs 3.6, at Rs 242.05 apiece on BSE. The market capitalisation of the company stood at Rs 29,060.52 crore at around the same time.
"Biocon Biologics Ltd, a subsidiary of Biocon Ltd., today announced that the integration of Viatris’ biosimilars business in 31 European countries has been successfully completed," the regulatory filing read.
According to the filing, in Europe, the Biocon Biologics portfolio includes seven biosimilars: Insulin Aspart and Insulin Glargine, Bevacizumab, Pegfilgrastim, Trastuzumab, Adalimumab, and Etanercept.
At a global level, Biocon Biologics has a robust pipeline of 20 assets for diabetology, oncology, immunology, ophthalmology, and bone health.
Following the deal closure in November 2022, the company, a unit of Biocon Ltd., had earlier announced the integration of Viatris Inc.'s business in over 70 countries in emerging markets, effective July 1, 2023, and North America in September 2023.
In February last year, Biocon Biologics inked a pact to acquire Viatris Inc's biosimilars business. Biocon Biologics Limited is a fully integrated global biosimilars organisation.
After the acquisition from Viatris, Biocon Biologics and its partners will commercialise biosimilar products in the following countries: Albania, Austria, Belgium, Bosnia, Bulgaria, Croatia, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Malta, the Netherlands, Norway, Poland, Portugal, Romania, Serbia, Slovakia, Slovenia, Spain, Sweden, Switzerland, and the United Kingdom.
Biocon share price: Past performance
Since January 2023, Biocon shares have lost over 8 per cent against the Nifty 50's rise of over 11 per cent.
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