Biocon Ltd is nearing completion of the integration of its biosimilars subsidiary, Biocon Biologics Ltd (BBL), into its core operations following substantial progress in acquiring minority shareholdings, including the stake held by Viatris Inc., formerly Mylan Inc.
In January, the company raised ₹4,150 crore (approximately $460 million) through a qualified institutional placement (QIP) to finance the acquisition of Viatris’ remaining stake in BBL. The fundraising was part of a broader strategy to consolidate ownership of the biologics business while reinforcing the company’s financial position.
Soon after the capital raise, Biocon completed the purchase of Viatris’ residual equity in Biocon Biologics for a cash consideration of $200 million. The transaction increased Biocon’s ownership in the subsidiary to over 98 percent, effectively positioning it for full integration.
The consolidation is expected to streamline the corporate structure, improve operational alignment across business segments, and strengthen strategic oversight of the biologics portfolio, which has become a central growth engine for the group. Biocon has indicated that the integration process is targeted for completion by the end of FY26.
