Biocon Biologics eyes third of FY24 revenue from emerging markets

BBL, which launched Hulio, a biosimilars version of Abbvie's blockbuster drug Humira, in the US earlier this week, is planning to launch this drug in other countries in the near term

Biocon Biologics (BBL), a subsidiary of Biocon Ltd, is expecting 33 per cent of its revenues from emerging markets in FY24, a day after the firm completed the integration of the acquired biosimilars business from Viatris in over 70 countries.

Following the deal closure in November 2022, this marks the first wave of countries where Viatris' operations have been fully transitioned to BBL, the company said.

In February 2022, BBL inked a pact to acquire Viatris’ biosimilars business for consideration of up to $3.33 billion. At present, emerging markets contribute around 25 per cent of BBL’s turnover.

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