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Offloading Biosimilars To Biocon ‘First Step’ Towards Viatris’ $9bn Target

Viatris On ‘Clear Path’ To Building In Generics And Complex Generics

 
• By Dean Rudge

After confirming rumors that it would offload its biosimilars unit to its long-term partner Biocon, Viatris has outlined plans to add to the expected cash proceeds with other divestments to complete on several strategic goals up to 2023. Bumping up R&D spending to facilitate complex generic launches is a continued priority for the company.

Target
Viatris is targeting $9bn of gross proceeds • Source: Shutterstock

Viatris’ $3.3bn agreement offloading its global biosimilars unit to Biocon Biologics is only the “first but critical step to unlock value and reshape Viatris,” the company says. Additional assets are also identified for the chopping block as part of dedicated efforts to generate up to $9bn in pre-tax proceeds by the end of 2023.

At the same time, Viatris has underlined its commitment in the US and EU generics space

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