‘Quiet Giant’ Biocon Sets Out Vision For Biosimilars
Mon, 07
Oct
2024
Posted by: Biocon Biologics
It has been a busy year for Biocon Biologics. After in September 2023 completing the North American integration of the front-end biosimilars business that it acquired from former partner Viatris in a $3.3bn deal (see sidebar), the company followed that up with a European completion shortly afterwards. (Also see "Taking Control Of Our Destiny: Biocon Biologics CEO Tambe Celebrates European Viatris Integration" - Generics Bulletin, 7 December, 2023.)
In the intervening months, the firm has ticked off achievements that include breaking $1bn in annual sales for the first time (Also see "Biocon Crosses $1bn Threshold In Biosimilars Revenue" - Generics Bulletin, 23 May, 2024.); negotiating a global settlement for its Stelara (ustekinumab) biosimilar (Also see "Biocon Expands Settlement For Stelara Rival To Cover Global Markets" - Generics Bulletin, 29 August, 2024.); and receiving the first approval for a rival to Eylea (aflibercept) in the US. (Also see "US Eylea Biosimilar Approvals Set Up Competition On Aflibercept" - Generics Bulletin, 21 May, 2024.)
And just recently, the company announced the successful pricing of Biocon Biologics’ debut $800m senior secured notes due 2029 – “the largest high yield debut USD bond issuance from India in the last 10 years” – and entered into a commitment agreement for a new syndicated debt facility, with the proceeds of the bonds and the debt facility being used “to substantially re-finance existing debt of $1.1bn.”
Author:
Biocon Biologics
Biocon Biologics