Viatris Swats Away Concerns Over Divestment Valuations
As US-Based Firm Updates On Glatiramer And Botox Biosimilar
Viatris remains committed to completing the sale of its global biosimilars unit to Biocon Biologics, while continuing efforts to generate up to $9bn in pre-tax proceeds by the end of 2023 from divestments.
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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.
Viatris has marked an important inflection point in its short life, announcing several more planned divestitures alongside the proposed acquisition of a pair of eyecare companies for up to $750m in cash.
Biocon has revealed that an FDA inspection of key biosimilars manufacturing facilities in Bengaluru and Malaysia in August has resulted in numerous Form 483 observations across three Biocon Biologics sites.