Offloading Biosimilars To Biocon ‘First Step’ Towards Viatris’ $9bn Target
Viatris On ‘Clear Path’ To Building In Generics And Complex Generics
After confirming rumors that it would offload its biosimilars unit to its long-term partner Biocon, Viatris has outlined plans to add to the expected cash proceeds with other divestments to complete on several strategic goals up to 2023. Bumping up R&D spending to facilitate complex generic launches is a continued priority for the company.
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Rajiv Malik is to retire as president of Viatris from 1 April 2024, amid a continuing strategic transformation for the business that was formed by the merger of Mylan and Pfizer’s Upjohn.
Viatris underlined a bold new vision early in 2022 when it announced the sale of its global biosimilars business to Biocon Biologics. Now it has moved to sell its remaining non-core units.
Biocon has achieved a milestone after its Biocon Biologics subsidiary closed its $3bn deal to acquire the biosimilars business of longtime partner Viatris, in what management described as a “historic inflection point” for the Indian player.