LE Desk

​New Delhi, March 2, 2022: Saraf and Partners (S&P) has advised Viatris Inc. to sell its biosimilars assets to Biocon Biologics Ltd. (BBL), subsidiary of Biocon Limited for USD 3.335 billion for stock and cash. 

The Law Firm said its team consisted of 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.

Viatris (formally called as ‘Mylan’) is a global healthcare company, listed on NASDQ.

Viatris will receive consideration of up to USD 3.335 billion, including cash up to USD 2.335 billion and Compulsorily Convertible Preference Shares (CCPS) in BBL, valued at USD 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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