(RTTNews) - Viatris Inc. (VTRS) announced that it has entered into definitive agreements with Biocon Limited for the sale of its equity stake in Biocon Biologics Limited. Under the agreements, Biocon will acquire all of Viatris' convertible preferred equity in Biocon Biologics for a total consideration of $815 million, comprised of $400 million in cash and $415 million in newly issued equity shares of Biocon.
Viatris will sell its equity stake in Biocon Biologics to Biocon for $400 million in cash and $415 million in equity shares of Biocon Limited. The newly issued shares will be listed and traded on the National Stock Exchange of India and are subject to a six-month lock-up period.
The agreements accelerate the expiration of biosimilars non-compete restrictions previously placed on Viatris in 2022. These restrictions will expire immediately upon closing for all ex-U.S. markets and in November 2026 for U.S. markets.
The transaction is expected to close in the first quarter of 2026, subject to customary closing conditions.
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