Viatris to sell Biocon Biologics stake for $815M in cash and equity from Biocon Limited

Viatris Inc

Viatris receives $400M cash and $415M in newly issued Biocon Ltd shares for Biocon Biologics convertible preferred equity.
Biosimilars non-compete restrictions end immediately ex-U.S., by Nov 2026 in U.S., accelerating Viatris' market access.
Transaction expected to close in Q1 2026; subject to closing conditions and taxes; Citi acted as financial advisor.
CEO Scott A. Smith says deal provides significant optionality and advances Viatris' strategic evolution.
Biocon shares subject to six-month lock-up; consideration subject to related taxes.

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