Global healthcare company Viatris Inc. sold its biosimilars business to Biocon Biologics Limited for US$ 3.335 billion for stock and cash.

Saraf and Partners advised Viatris on the deal

The team included Partners, Bikash Jhawar and Vivek Pareek (M&A) ; Sahil Arora (Regulatory issues); Lokesh Shah (Tax); Murtaza Zoomkawala (Capital Markets); Akshayy S Nanda (Competition Law); Gayatri Roy (Intellectual Property); Ajay Bhadu and Aastha Trehan (Real Estate); Akshay Jain (Commercial Contracts).

This is one of the biggest pathbreaking M&A deals in the healthcare sector.

Viatris will receive consideration of up to US$ 3.335 billion, including cash up to US$ 2.335 billion and shares in BBL, valued at US$ 1 billion, equivalent to an equity stake of at least 12.9% in the Company, on a fully diluted basis.

Biocon is India’s largest and fully-integrated innovation led biopharmaceutical company. The acquisition will allow BBL to create a unique global position and lead to a vertically integrated business of biosimilars.

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