Sector News

Viatris sells off biosimilars business in $3.3B deal

March 5, 2022
Life sciences

In many ways, Viatris is a product of the recent challenges faced by copycat drug developers.

In the world’s largest pharmaceutical market, the U.S., generics companies have found maintaining profits more difficult because of pressure on prices. At the same time, biosimilar sales remain relatively low due to the complicated patent webs that block many manufacturers from making inroads.

For some of the biggest, most diversified drug companies, these obstacles have raised questions about whether money would be better spent elsewhere. Biogen, for instance, announced in January plans to sell its stake in a joint venture focused on biosimilars. The Swiss pharmaceutical giant Novartis has also said it might offload its struggling generics unit Sandoz.

Viatris, meanwhile, was created through a merger between Pfizer’s generics business, called Upjohn, and Mylan, which had hit a series setbacks manufacturing- and pricing-related setbacks over the preceding few years. READ MORE

by Jacob Bell

Source: biopharmadive.com

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