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Exploring Biocon's integration of Viatris' business, their strategies in the pharmaceutical industry, their developments in biosimilars, and challenges faced in the market
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Quick takeaways
- Biocon's decline can be attributed to Indian investors' lack of understanding of the company's unique business model and heavy investment in R&D for innovative biologics.
- Biocon's focus on generics and API, contract research, and biologics, including biosimilars, presents an opportunity for growth in the future despite challenges in the US market.
Deep dives
Biocon's Struggles and Stock Decline
Biocon, once the darling of investors with its stock soaring over 400% from 2016 to 2020, has recently faced a decline, losing over 40% of its value while the pharma market saw a 20% increase. Kiran Mazundar Shah, Biocon's founder, attributes the struggles to three factors. Firstly, Indian investors fail to grasp that Biocon is not a typical pharma company, as it invests heavily in research and development for innovative biologics business. Secondly, the acquisition of the US-based Viatris for $3 billion impacted Biocon's debt balance, a concept not appreciated in the pharma industry. Lastly, there is a lack of understanding about the complexity and time-consuming process involved in creating biosimilars, which constitute a significant part of Biocon's revenue.
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