Biocon Biologics marks one year as global biosimilars enterprise

It is targeting a $100 m inventory improvement by March

Biocon’s subsidiary, Biocon Biologics Limited (BBL), has announced the completion of its first year as a fully integrated global biosimilars enterprise following its acquisition of Viatris in 2022.

 

BBL also aims to improve its inventory position by around $100 million (Rs 857.2 crore) by March 2025, it said during the Q2FY25 investor call.

 

With this successful integration, BBL now directly oversees operations in approximately 120 regions, including key markets such as Japan, Europe, the United States, Australia, New Zealand, and others.

 

“We have successfully transformed the organisation from a two-country operation focused on development and manufacturing, to a fully integrated company with a strong commercial engine bringing us closer to patients in over 120 countries. Having achieved several milestones and embraced new opportunities, we have laid a strong foundation for accelerated business growth that will unlock value for the company and all our stakeholders,” said Shreehas Tambe, chief executive officer (CEO) & managing director (MD), Biocon Biologics Limited.

 

A glimpse at the past one year

 

In December 2023, BBL completed integrating its biosimilars business across 120 countries, transitioning over 10 emerging markets, Japan, Australia, and New Zealand under its direct control. This enabled BBL to market its eight biosimilars, including Ogivri, Hertraz, and Abevmy, globally.

 

In February, the company partnered Sandoz Australia to market cancer treatments Ogivri (biosimilar Trastuzumab) and Fulphila (biosimilar Pegfilgrastim). It also secured a US licence with Janssen for Bmab 1200, a Stelara biosimilar, targeting psoriasis and other conditions, with a planned launch in February 2025 upon USFDA approval.

 

In March, Eris Lifesciences acquired Biocon Biologics’ domestic branded formulations for Rs 1,242 crore. 

 

Biocon Biologics settled with Bayer and Regeneron, securing Canadian market entry for Yesafili, an EYLEA biosimilar, by July 2025, later earning USFDA approval in May.

 

In June, the European Medicines Agency (EMA) approved BBL for manufacturing biosimilar Bevacizumab at its multi-product monoclonal antibodies (mAbs) drug substance facility in Bengaluru.

 

In August, BBL secured market entry for its proposed biosimilar, Bmab 1200, intended to compete with Stelara, across Europe, the UK, Canada, and Japan. This achievement followed a settlement and licence agreement signed with Janssen Biotech Inc., Janssen Sciences Ireland, and Johnson & Johnson, collectively referred to as Janssen.

 

BBL refinanced $1.1 billion (approximately Rs 9,300 crore) of long-term debt in October through US dollar bonds and a new syndicated facility.

 

This included $800 million (around Rs 6,600 crore) in senior secured notes maturing in 2029, issued at a coupon rate of 6.67 per cent.

 

In November, the biosimilar arm reported advancements in the ‘Embedding Specialist Nurses in Diabetes Care’ initiative, conducted in partnership with Diabetes Africa and St Paul’s Hospital Millennium Medical College in Ethiopia.

 

In early December, BBL received approval from the USFDA to launch a biosimilar of Janssen's Stelara (Ustekinumab), a treatment for autoimmune disorders, including Crohn's disease and ulcerative colitis.

 

Additionally, on December 11, Biocon's subsidiary was honoured as an Asia IP Elite for 2024.

 

Going forward

 

Biocon Biologics aims to accelerate its growth by expanding its product portfolio in existing markets and introducing its products to new territories.

 

Over the next two-three years, the company plans to launch three products globally — bAflibercept, bUstekinumab, and bDenosumab — and five products in the US. It will add bAspart, bBevacizumab to the list.

 

These strategic launches are designed to position BBL as one of the top-three biosimilar companies worldwide.