Viatris was formed in November 2020, when Mylan merged with Upjohn, Pfizer's off-patent medicine division. This occurred after the companies received the go-ahead from authorities in Europe, Australia and New Zealand [1].

It is expected that Biocon will buy Viatris’ biosimilar business in an equity-cash-deal, handing over US$1.5 billion to Viatris in a merger that will create a business worth an estimated US$10 billion. Biocon aims to hold a controlling majority stake in the business and will also look for an initial public offering (IPO) for the merged entity based on this valuation.

Biocon and Viatris already have a business relationship as they are exclusive partners on a broad portfolio of biosimilars and insulin analogues. For example, the companies recently launched two versions of their interchangeable biosimilar Semglee (insulin glargine) in the US market [2].

In late 2021, Biocon entered into a vaccine alliance deal with Adar Poonawalla’s Serum Institute in India [2]. Herein, a 15% stake of Biocon’s biosimilar unit was sold to the institute to enable access to millions of vaccine doses, including COVID-19 shots. The deal valued Biocon Biologics at US$4.9 billion.

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FDA approves insulin glargine biosimilar Semglee

References
1. GaBI Online - Generics and Biosimilars Initiative. Mylan-Upjohn merger receives go ahead from Europe, Australia and New Zealand [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2022 Feb 11]. Available from: www.gabionline.net/pharma-news/Mylan-Upjohn-merger-receives-go-ahead-from-Europe-Australia-and-New-Zealand
2. GaBI Online - Generics and Biosimilars Initiative. Viatris/Biocon launch two versions of Semglee to accommodate rebates [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2022 Feb 11]. Available from: www.gabionline.net/biosimilars/general/viatris-biocon-launch-two-versions-of-semglee-to-accommodate-rebates
3. GaBI Online - Generics and Biosimilars Initiative. Biocon Biologics and Serum Institute Life Sciences partnership [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2022 Feb 11]. Available from: www.gabionline.net/pharma-news/biocon-biologics-and-serum-institute-life-sciences-partnership

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