The campus of Biocon Ltd. near Electronic City in Bengaluru. File
| Photo Credit: G.R.N. Somashekar
Biotechnology major Biocon on Saturday (December 6, 2025) said it will fully integrate Biocon Biologics with itself, in a deal valuing the biologics unit at $5.5 billion.
As part of the transaction, Biocon will acquire the remaining stake in Biocon Biologics Limited from Serum Institute Life Sciences, Tata Capital Growth Fund II and Activ Pine LLP through a share swap, valuing Biocon Biologics at $5.5 billion, the Bengaluru-based company said in a regulatory filing.
The share-swap ratio has been fixed at 70.28 Biocon shares for every 100 Biocon Biologics shares, at a share price of ₹405.78 per Biocon share, it added.
Further, Biocon will acquire the residual stake held by Mylan Inc (Viatris) for a total consideration of $815 million, of which $400 million will be payable in cash and $415 million through a share swap, it added.
Biocon is constituting a governance council chaired by Kiran Mazumdar-Shaw and a transition and integration management committee, led by Biocon Biologics CEO and Managing Director (MD) Shreehas Tambe, to ensure a seamless integration.
The company said its board has also approved raising to ₹4,500 crore in additional capital through a Qualified Institutional Placement (QIP), subject to shareholder approval.
The proceeds of the QIP will be primarily utilised to pay the cash component to Viatris.
“The integration of Biocon Biologics into Biocon Limited represents the next chapter in our evolution. Strategically, Biocon will be one of the few companies offering both biosimilars and generics at a global scale,” Biocon Executive chairperson Kiran Mazumdar-Shaw said.
“As the only company with biosimilar insulins and generic GLP-1 peptides, Biocon is uniquely positioned to address the needs of patients living with diabetes comprehensively,” she added.
“Together with our combined oncology and immunology portfolios, this creates a differentiated offering addressing the world’s most pressing healthcare needs,” Ms. Mazumdar-Shaw stated.
Biocon Biologics CEO Mr. Tambe to lead integrated business
“Mr. Tambe will lead the transition and integration management committee and will take over as the CEO & MD of the combined business, subject to requisite approvals,” she said.
“This integration enables Biocon to harness the combined strengths of its generics and biosimilars businesses across countries,” the company stated.
Biocon Biologics ranks among the top five global biosimilar players by revenue, with 10 commercialised products across key markets, while Biocon’s generics business offers over 90 products.
The integration process is expected to be completed by March 31, 2026. The integration marks a pivotal step in combining the businesses to leverage the global commercial infrastructure, simplify the corporate structure, and strengthen Biocon’s global position to lead in diabetes, oncology and immunology – therapeutic areas that together account for nearly 40% of global pharmaceutical revenues.
“As the only company operating globally with both biosimilar insulins and generic versions of complex peptides, including GLP-1s, Biocon is uniquely poised to address the rapidly expanding ‘diabesity’ market,” it said.
Post the integration and upon execution of the necessary documentation, receipt of approvals from the Nomination & Remuneration Committee (NRC) and the Board, Mr. Tambe will take on the role of the CEO & MD, and Kedar Upadhye will take on the role of chief financial officer of the combined business.
“Siddharth Mittal, CEO & MD, Biocon Ltd., will transition into a leadership role within the Group,” the company stated.
Published – December 06, 2025 05:38 pm IST
