Biocon plans to list biosimilars business by 2025 first half, says CEO

A top executive from the Indian biopharmaceutical company Biocon Ltd (BION.NS) said on Friday that the company plans to list its biosimilars division, which accounts for a sizeable portion of its overall sales, by the first half of 2025.

 

Biocon Biologics, a fully integrated subsidiary of Biocon Ltd, focuses on making biosimilars, with key revenue-generating markets being the United States and Europe.

 

"I would say it (listing of the biologics business) can happen any time after the second half of 2024 ... it is likely to happen in the first half of 2025," Biocon Ltd CEO and Managing Director Siddharth Mittal told media.

 

"There are a couple of milestones (to meet) before we get to that stage ... we have to complete transition of all territories of Viatris to us and we are looking at reducing the debt which was taken to fund the acquisition," Mittal said.

 

Biosimilars are replicas of more expensive, sophisticated biological medications used to treat conditions like cancer, rheumatoid arthritis, and psoriasis.

 

Biocon Biologics has a portfolio of more than 20 products primarily focusing on oncology, immunology and diabetes.

 

Content source: Media reports

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