Biocon Pursues In-Licensing Deals to Drive Biosimilars Growth

Biocon Expands Hunt for In-Licensing Deals to Boost Biosimilars Growth

Biocon, a leading biotechnology company, is intensifying its search for in-licensing deals to accelerate growth in its biosimilars business. The company believes that partnerships can help fill portfolio gaps without the lengthy development period required for in-house development.

With a global commercial footprint established, Biocon is now seeking to leverage its commercial platform more efficiently by acquiring external assets that complement its existing portfolio. The company has already invested heavily in building scale and research and development (R&D) capabilities, and is now looking to optimize its commercial operations.

Biocon's Commercial Presence

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Biocon has a significant commercial presence in advanced markets, including the US, Europe, Canada, Japan, Australia, and over 70 emerging markets. The company's commercial platform was boosted by the integration of Viatris' global biosimilars business in December 2023. Biocon Biologics acquired Viatris' biosimilar business in November 2022 for $3.335 billion.

Biosimilars Business Performance

Biocon's biosimilars business has been a significant contributor to the company's growth. The company has commercialized 12 biosimilar products globally and serves over 6.5 million patients annually. The company maintains a robust pipeline of over 20 biosimilar assets, but is now looking to expand its portfolio through in-licensing deals.

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The company's recent launches are beginning to scale, with multiple products expected to drive growth in the coming quarters. Biocon's biosimilars segment generated Rs 10,431 crore in FY26 revenue, growing 16 percent year-on-year, with EBITDA margins around 26 percent. The company is targeting EBITDA margins of 30 percent in the coming quarters.

In-Licensing Strategy

Biocon's shift towards in-licensing is driven by the company's lifecycle stage. With the major investment phase behind it, Biocon is now focused on improving capacity utilization, margins, and return on capital. The company believes that in-licensing can help it plug portfolio gaps quickly and scale its commercial engine more efficiently.

As the biosimilars space becomes increasingly crowded globally, Biocon is looking to differentiate itself through speed-to-market and portfolio breadth. The company's strategy is to identify gaps, plug them quickly, and use its global commercial engine to scale.