Viatris Financial News

Subscribe to enjoy similar stories.Sun Pharmaceutical Industries Ltd’s acquisition of Organon might yet avoid the pitfalls that its rivals, Lupin Ltd and Biocon Ltd, have faced in the past. Billed as among the largest deals in the Indian pharma space, the Sun-Organon deal is in a better place than the Lupin-Gavis and the Biocon-Viatris deals.When Lupin completed the acquisition of US-based Gavis Pharmaceuticals in March 2016, the former’s stock went downhill.

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Biocon Biologics, the biosimilar unit of Biocon, said it expects to launch six biosimilar products in the US, and is prioritising debt reduction to spur growth and lift margins. «Six product launches are scheduled in the next two years, subject to USFDA approvals,» Shreehas Tambe, chief executive and managing director, told ET in an interview. He added that the company is also exploring ways to reduce finance costs by optimising debt repayment timelines and interest rates.

Matrix Laboratories founder Nimmagadda Prasad's acquisition of the active pharmaceutical ingredient (API) business of Viatris.

₹1,445 crore to partly finance the acquisition of US-based pharmaceutical major Viatris’ active pharmaceutical ingredients (API) business by Matrix Pharma Private Ltd.The deal is being consummated with financing from Kotak Strategic Situations Fund II, the firm said in a statement, more than a year after it announced the first close of a $1.25 billion fund to invest across growth and value companies.The acquisition is expected to make the Hyderabad-based Matrix Pharma the second largest Indian player in antiretroviral API space. It will also gain access to Viatris’ network of 185 scientists and a repository of more than 600 drug master files (DMF).Kotak Alt’s capital infusion will enable Matrix to consolidate its leadership in the API business by focusing on third-party sales and will selectively evaluate inorganic opportunities in the pharma contract development and manufacturing organization (CDMO) space.Srini Sriniwasan, managing director of Kotak Alternate Asset Managers, said that the deal underscores Kotak Alt’s pharma industry capabilities and its ability to create a platform to build a robust API business which we can support with organic and inorganic growth.Viatris Inc was a result of a merger between Mylan NV and Pfizer’s Upjohn unit in 2020.

Biocon's executive chairperson Kiran Mazumdar-Shaw on Friday said she expects consolidation and acceleration of biosimilar business along with further reduction of debt taken to fund the $3.3-billion acquisition of Viatris biosimilar business to be key priorities in FY25. «FY24 was a very transformational year for us, because we made a very successful transition of the (Viatris biosimilar business) acquisition in a seamless way,» Mazumdar-Shaw said in an interview to ET. «FY25 will be a year of consolidation. It will be a year of acceleration, and of course, we want fiscal stabilization as well, and therefore we're looking at paring down the debt further,» Mazumdar-Shaw added. Biocon has reduced $250 million out of its $1.2 billion debt in FY24.

Piper Sandler analysts said in a note Friday that the key perceived Eylea overhang for Regeneron (NASDAQ:REGN) has diminished with the Mylan infringement judgement.

The Bank of Canada overnight rate started 2023 at 4.25 per cent and will finish the year at five per cent, for a rise of 0.75 per cent after a rise of four per cent in 2022. I believe we will see a two per cent decline in rates by the end of 2024, back to an overnight rate of three per cent. The impacts of this decline will be the story of 2024.

NEW DELHI : Biocon Biologics Ltd (BBL), a subsidiary of Biocon Ltd, on Monday announced a complete integration of the acquired Vitaris’ biosimilars business in 120 countries, a year ahead of schedule. The firm had acquired the American pharmaceutical company’s biosimilars business in November 2022.

Biocon Biologics completes integration of Viatris' biosimilar business in 120 countries Biocon Biologics on Monday said it has completed integration of the acquired Viatris' biosimilar business in 120 countries, a year ahead of schedule. The company said over 10 emerging markets along with Japan, Australia and New Zealand have transitioned in this final phase of the integration of the biosimilars business acquired from Viatris. With the completion of this significant milestone, Biocon Biologics is now a fully integrated ‘lab to market’ biosimilars company committed to serving millions of patients across the globe. Around 70 emerging markets were integrated in July, the North America business transitioned in September and the European business in November. Biocon Biologics has made several key leadership appointments, built new capabilities and infrastructure from the ground up and set up dedicated teams to address the growing needs of patients and customers through self-led and partner or distributor-led commercial models. Biocon Biologics will now have a commercial footprint across 120 countries with a direct presence in the US, Canada, Europe and 9 key emerging market countries, namely India, UAE, Saudi Arabia, Morocco, South Africa, Brazil, Malaysia, Thailand, and the Philippines.

MUMBAI : Biocon Biologics Ltd, the biosimilar arm of Biocon, will consider a listing only after it completes the integration of its Viatris portfolio, which is due by the end of March, the company’s chief executive officer Sreehas Tambe said in an interview. The company is also looking to secure US regulatory approval for Aspart (insulin biosimilar) and Bevacizumab (cancer biosimilar) before going ahead with its initial public offering, he added. Biocon Biologics had acquired Viatris’ global biosimilar portfolio for $3.34 billion in November 2022 in a cash and equity transaction.

Rajiv Malik, president of the world's largest generics drugmaker Viatris, will retire in April next year, the Nasdaq-listed company has informed stock exchanges. Malik was instrumental in the $12 billion merger of Mylan with Pfizer's generic drug unit that resulted in the creation of Viatris in 2019. The combined entity's sales are more than that of Israel's Teva, which was previously the largest generic drug company in the world. «There are not enough words to express how much Rajiv Malik as both a partner and a leader has meant to me, first at Mylan and now Vitara's.

Biocon’s sales to grow 58% mainly led by the integration of acquired biosimilars operation of Viatris as well as sequential improvement in Fulphila/Semglee penetration in the US. It sees strong 28% growth in research services led by ramp up in CDMO and steady growth in small molecules. The company’s margins may expand 350 bps to 23.8% led by the integration advantage, improving biosimilars sales and improving margins in research services, the brokerage said.

KSSF), the alternative assets management fund of the Kotak Group, plans to invest about ₹1,600 crore in the active pharmaceutical ingredients (API) business that Nimmagadda Prasad acquired from Viatris last week, said two people aware of the development. KSSF will back the $450-million (₹3,800 crore) acquisition through a $200-million funding made through a combination of structured debt and equity, said the sources.

IQuest Enterprises, a multi-sector investment company, on Monday said it has entered into a definitive agreement to acquire the API (active pharmaceutical ingredient) operations of global pharmaceutical major Viatris in India.A press release from IQuest said it emerged as the preferred investor following a global competitive bid.

Viatris Inc. (formerly Mylan Inc.), a global healthcare company, will sell its Active Pharmaceutical Ingredients (API) business in India to Hyderabad based Iquest Enterprises, stated a company statement. Iquest Enterprises is owned by Nimmagadda Prasad, Andhra Pradesh based industrialist and founder of Matrix Laboratories.

«If you look at what Teva has been saying, what Viatris has been saying, I think all of them are consistently calling out that the pricing environment is softer this year. And on top of that, as you were talking about, we are seeing some supply disruptions in the market,» says Nithya Balasubramanian, Sanford Bernstein.Let us first address the so-called elephant in the room and that has always been U.S. markets. Has pricing erosion further eased? What is the situation when it comes to the drug and the injectable shortage? I mean, is there more to the ray of light for trade generics?See, in the US, we do see pricing deflation has softened, especially compared to last year. We think pricing deflation was trending at minus 15, minus 20%, even depending on the portfolio. And we think that is down to low single digits this year. And I think that is now being consistent commentary from most of the players, most of the Indian generic companies, as well as some of the global MNCs as well. If you look at what Teva has been saying, what Viatris has been saying, I think all of them are consistently calling out that the pricing environment is softer this year. And on top of that, as you were talking about, we are seeing some supply disruptions in the market.

Biocon Biologics is on track to integrate a major part of the acquired biosimilars business of long-term partner Viatris in the current fiscal, the company's Executive Chairperson Kiran Mazumdar-Shaw has said. Biocon Biologics, a unit of the Bengaluru-based biotechnology major, had announced earlier this year that it has completed the integration of the acquired biosimilars business from Viatris in over 70 countries in emerging markets effective July 1, 2023. Now, it is looking to integrate the acquired biosimilars business in the remaining markets like North America and Europe. «We are on track to integrate a major part of the acquired business in a phased manner during FY24,» Mazumdar-Shaw said in her address to the company's shareholders in the Annual Report for 2022-23, which was released on Wednesday. Direct commercial presence in many global markets will allow Biocon Biologics to devise more sustainable and targeted strategies to make biosimilars accessible to the maximum number of patients and healthcare providers, she added.

MUMBAI : Biocon Biologics Ltd expects to conclude the merger with Viatris’ biosimilars portfolio in FY24, chief executive Shreehas Tambe said on Friday. “We are looking to complete the transition ahead of time. We planned a two-year transition.

CCI has cleared Kotak Special Situations Fund's (KSSF) proposed investment in Biocon Biologics Ltd under the green channel route. In February, KSSF, an arm of Kotak Mahindra Bank, announced a Rs 1,070 crore investment in Biocon to help a subsidiary of the Bengaluru-based company in an acquisition.

«Now, this we do not expect to happen in the coming quarters. And now we expect the profitability which includes core margin, core EBITDA margin, EBITDA margin and PAT to improve in coming quarters,» says Siddharth Mittal, MD & CEO, Biocon.Well, it was quite a weak show this time, to be honest, versus what Street was expecting. Can you talk to us about the reason of such a sharp miss versus what Street expected?Yes, so we did have weak earnings when you look at it.