Viatris Swats Away Concerns Over Divestment Valuations
As US-Based Firm Updates On Glatiramer And Botox Biosimilar
Viatris remains committed to completing the sale of its global biosimilars unit to Biocon Biologics, while continuing efforts to generate up to $9bn in pre-tax proceeds by the end of 2023 from divestments.
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Biocon has revealed that an FDA inspection of key biosimilars manufacturing facilities in Bengaluru and Malaysia in August has resulted in numerous Form 483 observations across three Biocon Biologics sites.
Biocon may not be able to make it to the current contracting cycle in the US for its Viatris-partnered biosimilar aspart, but all is not lost, the management indicates. The Indian firm is also buoyant about the prospects of taking its franchise of potentially interchangeable recombinant human insulin to the US.
Viatris remains hopeful of obtaining FDA approval for its proposed biosimilar to Botox in partnership with Revance Therapeutics in 2026, after the latter’s manufacturing problems for another drug candidate stymied development of the rival to the world-renowned cosmetic brand.