India's Biocon plans IPO for biosimilars business by March 2026
HYDERABAD, Jan 31 (Reuters) - Indian biopharmaceutical firm Biocon (BION.NS), opens new tab is likely to list its key biosimilars business by March 2026 and aims for double-digit share in its core U.S. market for its new launches, a top executive told Reuters on Friday.
The company plans to launch five new biosimilars in the U.S. in the new fiscal year, starting in April, and is aspiring for double-digit market share for them, Biocon Biologics CEO Shreehas Tambe told Reuters in an interview.
Biosimilars are similar and relatively affordable versions of high-priced and complex biologics drugs used to treat illnesses such as cancer and autoimmune diseases.
"We needed to be in charge and control of the business (before taking the company public). I think we're pretty much there... We should be looking at the next 12-15 months to this fiscal, which is March 2026 (for listing)," Tambe said.
The company, which has been pushing its IPO plans for the past year, has been waiting to complete the integration of its acquired biosimilars firm Viatris and refinance debt before it goes public.
The new U.S. launches, in addition to four existing biosimilars, will focus on therapy areas including diabetes, oncology and immunotherapy.
The company's existing biisimilars have a 20% market share, Tambe said.
The U.S. contributes about 40% in revenue to Biocon Biologics, followed by 35% from Europe where the company plans to launch three new biosimilars in the next 18 months.
The firm hopes to benefit from U.S. President Donald Trump's stand on healthcare affordability, Tambe said.
"..there is a bipartisan view on on bringing affordability to healthcare and I think biosimilars have a big role to play in this," he said.
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