Biocon Biologics Marks Another Key Milestone with Successful Transition of the North America Business Ahead of Plan
Biocon Biologics marked a key milestone in the post-acquisition integration of the biosimilars business of its long-term partner Viatris with the successful transitioning of the business in North America (United States and Canada) on September 1, 2023.
It marks Biocon Biologics’ first direct commercial presence in Advanced Markets and represents the largest share of its business, by value. What makes this milestone even more remarkable is that it was accomplished within just 9 months of the closure of the acquisition on November 29, 2022, and within 60 days of successfully integrating over 70 countries in Emerging Markets. The 70+ Emerging Markets transitioned to Biocon Biologics from July 1, 2023, as part of the first phase of the business integration plan.
“Our successful North America transition marks the second wave of our integration of the Viatris biosimilars’ business, quickly following Emerging Markets and ahead of schedule. We will now be leading the commercial operations in the United States and Canada as a global business. This will further enable Biocon Biologics to continue to expand the availability of our high-quality biosimilars to patients and provide more accessible and affordable options to treat diabetes, cancer, and autoimmune diseases as well as offer products in new therapeutic areas such as ophthalmology.”
— Shreehas Tambe, CEO & Managing Director, Biocon Biologics Ltd
MOVING CLOSER TO PATIENTS
The completion of the North America integration means that Biocon Biologics now has exclusive rights for the existing commercialized portfolio of biosimilars, Ogiviri® (bTrastuzumab), Fulphila® (bPegfilgrastim), Semglee® (Insulin Glargine) and Hulio® (bAdalimumab) in the United States. In addition to these products, Biocon Biologics has exclusive rights for Kirsty®(Aspart) and Abevmy® (Bevacizumab) in Canada.
Before the acquisition, Viatris had exclusive commercial rights for these products in the United States and Canada.
The completion of the business integration gives Biocon Biologics the opportunity to provide patients, customers, and healthcare providers in North America with deep expertise, commitment, and continual investment to advance biosimilars throughout the entire value chain from innovation to ensuring a robust global supply.
As more than 100 new colleagues are joining Biocon Biologics from Viatris, the transition will be seamless and the company will be able to build on the longstanding track record of reliability by focusing its efforts on being more responsive to the needs of various stakeholders from patients to healthcare professionals, and partners to payors.
In addition to the immediate accrual of economic benefit to the P&L, Biocon Biologics will gain from Viatris’ experience on navigating the formulary positioning, contracting, front end sales, regulatory interface and distribution in the North America market.
As a fully integrated enterprise, it will be able to drive efficiencies in the system with quicker decision-making, improved market insights and common focus across functions, among others.
This combination marks an important landmark in the collective journey to enhance patient access to lifesaving biosimilars, reduce healthcare inequities and generate significant savings for the healthcare systems of the United States and Canada.
BUILDING ON ITS STRENGTHS
Through its partnership with Viatris, Biocon Biologics had already been making a difference to patients in the United States and Canada through multiple products across therapy areas.
United States
In fact, Biocon Biologics has achieved many “firsts” in the biosimilars industry, including the first to receive approvals of biosimilar Trastuzumab and biosimilar Pegfilgrastim as well as interchangeable biosimilar Glargine in the United States.
Fulphila® has now become the leading biosimilar in its category with a market share of 16%* in U.S.
Similarly, Semglee® and unbranded biosimilar Glargine have together improved U.S. market share to 12%* from 8% in the previous year. The market share for new prescriptions is trending at around 15%, which is a lead indicator of the strong ongoing adoption of Biocon Biologics’ interchangeable Glargine, as well as physicians’ confidence in prescribing it.
For Ogivri®, the market share has steadily improved to 11%* in the U.S.
Biocon Biologics launched its fourth biosimilar in the U.S., Hulio® (adalimumab-fkjp) injection, a biosimilar to Humira®#, in July after five years of experience in Europe and two years in Canada. Biosimilar Adalimumab has been made available to patients in the U.S. at a list price of ~85% below the current list price of the innovator product Humira.
Canada
In Canada, which is a key market, Biocon Biologics has launched several biosimilars.
Cancer patients in Canada are benefiting from Ogivri®, which is the leading biosimilar Trastuzumab brand in the country with over 35%^ market share, and Abevmy®.
Hulio®, which has attained 6%^ market share, is providing Canadian patients living with chronic inflammatory condition a key treatment option.
Semglee and Kirsty were launched in Canada in FY23 for the benefit of diabetes patients.
A TRANSFORMATIONAL ACQUISITION
Biocon Biologics believes it has a responsibility to make a meaningful difference to healthcare and patients’ lives worldwide. The acquisition of Viatris’ global biosimilars business is an important step towards realizing this vision as it transforms Biocon Biologics into a unique, fully integrated, leading global biosimilars enterprise.
This acquisition builds on the decade-long partnership between the two companies and combines their complementary capabilities. As a single organization driven by a common purpose, Biocon Biologics seeks to maximize the value of the biosimilars franchise the two companies have built together and make its biosimilars accessible to the maximum number of patients and healthcare providers.
A Blog by Biocon 