India-Based Biocon To Buy Viatris' Biosimilars Assets In $3.3B Deal

Biocon Biologics Ltd has agreed to acquire Viatris Inc's VTRS biosimilars assets for up to $3.335 billion in stock and cash.
The deal value includes cash of up to $2.335 billion and Compulsorily Convertible Preference Shares in Biocon Biologics, valued at $1 billion.
Viatris will also pay $50 million to Biocon Biologics to fund certain capital expenditures.
Biocon Biologics will gain access to Viatris' global biosimilars business, expected to see $1 billion in revenues next year.
Related: India's Biocon Mulls Merger Of Biosimilar Business With Mylan: Moneycontrol.
Shaw will continue in her current position. Viatris will designate Rajiv Malik, President of Viatris, to serve on Biocon Biologics's board.
Viatris Earnings: The Company reported Q4 FY21 sales of $4.33 billion, +21% Y/Y, slightly below the consensus of $4.35 billion.
It reported a narrower EPS loss of $(0.22) compared to $(1.07) a year ago.
Guidance: Viatris expects FY22 sales of $17 billion - $17.5 billion, compared to the consensus of $17.88 billion.
It forecasts adjusted EBITDA of $5.8 billion - $6.2 billion and free cash flow of $2.5 billion - $2.9 billion.
Price Action: VTRS shares are down 3.51% at $14.03 during the premarket session on Monday's last check.

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