Biocon Group’s board is setting up a committee to evaluate strategic restructuring options, including the merger of its Biosimarily Arm Biocon Biologics Ltd and its flagship Biocon Ltd.
The company said in a May 8 press release that these options will be evaluated considering matters related to legal and tax and comply with all approvals, including regulatory, board and shareholders.
The company said in February that it could list its biosimilar business on the stock exchange by March 2026.
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“…In view of the market volatility we are seeing in the IPO, the board believes we should consider other strategic options, including evaluating the merger,” Biocon Group Chairman Kiran Mazumdar-Shaw told investors on Friday.
“So at this point, the board constitutes a committee and we will evaluate all strategic options and then contact what the committee recommends to the board within a few months.”
Biocon’s board of directors also approved the promotion to ₹The company said it had conducted Rs 45 billion through securities issuance through qualified institutional placement, rights issues or other permissible avenues. These funds will be used to repay borrowings from the Company or its subsidiaries, to fulfill other debt obligations, and to invest in the subsidiaries.
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Biocon Biologics acquired the global biosimilar business of US drugmaker Viatris in 2022 to expand its global footprint. Shreehas Tambe, the company’s CEO and managing director, had previously said it would consider an IPO after completing the integration of the ViaTris portfolio.
“Over the whole year, the company grew 15% in fiscal 25, and we successfully integrated our global business,” Tambe said in a press release. “After building a solid foundation, it’s very easy for us to launch 5 new products and expand patient access in the next 12-18 months.”
Biocon is a global biopharmaceutical company that develops and commercializes novel biologics, biosimilars and complex small molecule active pharmaceutical ingredients (APIs) in India as well as several key global markets in the United States, Europe and emerging markets as well as global markets in general. The company focuses on complex therapies in chronic segments such as diabetes, cancer and autoimmunity.
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Biocon Biologics’ four biosimilars have sales of $200 million in fiscal year 25. The company also launched YesInket (Ustekinumab), the fifth biosimilar in the United States, in fiscal 25.
