INSUBCONTINENT EXCLUSIVE:
Biocon Biologics will file for an IPO within the next two yearsNew Delhi: Biocon Biologics, a subsidiary of Biocon, will file for an initial
public offer (IPO) within the next two years, executive chairperson Kiran Mazumdar-Shaw said on Monday.Biocon Biologics, which has inked a
deal to acquire Viatris Inc's biosimilars business for up to $3.33 billion (about Rs 24,990 crore), aims to be a fully integrated global
biosimilars company."We are ready to advance our biosimilar journey to the next level
This acquisition of Viatris' biosimilar business is an important step to create a leading, fully integrated global biosimilars company,
setting us up for the next decade of value creation for all our shareholders
We expect to have an IPO of Biocon Biologics with this new structure withi$8 billion, she stated."And obviously, we expect the IPO to be at
a very, very attractive level
Biologics become a unique global vertically integrated biosimilars leader, she added.Ms Mazumdar-Shaw noted the Viatris deal would enable
the company to have one of the industry's broadest and deepest commercialised biosimilars portfolios."This transaction will accelerate our
direct commercialisation strategy for our current biosimilars portfolio
It will also make us future-ready for the next wave of products...fast track our journey of building a strong global brand
Additionally, this strategic combination will prepare us for the next decade of value creation for all our stakeholders through an IPO,
which is being planned within the next 18 to 24 months," she said.Ms Mazumdar-Shaw noted that the acquisition enables Biocon Biologics to
fill the gaps in its missing capabilities in developed markets, especially around supply chain and commercialisation."Our long-standing
relationship with biologists positions us very well to seamlessly and rapidly integrate and thereby maximise value from this transaction
Additionally, it accelerates our readiness for the next wave of biosimilars which are under development," she said.The deal would also
enable the company to realise regulatory and IP capabilities in developed markets and operational efficiencies, she added.Ms Mazumdar-Shaw
said that its biosimilars business has demonstrated success and established global credibility, with seven of its molecules having been
commercialised worldwide."Through our comprehensive biosimilars portfolio, we are serving over 3.6 million patients every year
And in benefiting patients, we have also generated revenues of $384 million in FY21," she stated.Biosimilars offer a lovely global
opportunity as it is a class of drugs that has emerged as an effective alternative to reduce the cost of novel biologic therapies."Over
1,000 biosimilars and follow on biologics are under development for various therapy areas
Globally, the uptake of biosimilars has increased rapidly
About 65 per cent of all biosimilars approved in the US have gained their approval between 2018 and 2019
Even 50 per cent of biosimilars in Europe were approved between 2017 to 2019 as per an E-Y analysis," Ms Mazumdar-Shaw noted.
