India's Biocon Biologics agrees to buy Viatris biosimilar assets for up to $3.335B

 India's Biocon Biologics agreed to acquire Viatris Inc.'s biosimilar assets for up to $3.335B.

Viatris (NASDAQ:VTRS) will receive cash consideration of $2B on closing of the transaction and up to $335M as additional payments expected to be paid in 2024, according to a Biocon statement. Additionally, upon closing of the deal, Biocon Biologics will issue $1B of compulsorily convertible preference shares ("CCPS") to Viatris, equivalent to an equity stake of at least 12.9% in the company, on a fully diluted basis.

https://seekingalpha.com/news/3806680-indias-biocon-biologics-agrees-to-buy-viatris-biosimilar-assets-for-up-to-3335b