Viatris’s Sale of its Equity Stake in Biocon Biologics Limited to Biocon

On December 6, 2025, Viatris Inc. ("Viatris"), a global healthcare company, announced it has entered into definitive agreements with Biocon Limited ("Biocon") for the sale of Viatris's equity stake in Bicon Biologics Limited. Under the definitive agreements, Biocon will acquire all of Viatris's convertible preferred equity in Biocon Biologics Limited for a total consideration of $815 million, consisting of $400 million in cash and $415 million in newly issued equity shares of Biocon. Cravath is representing Viatris in connection with the transaction.

The Cravath team is led by partners Mark I. Greene, Aaron M. Gruber and Edward O. Minturn and includes associate Hannah Gehringer on M&A matters; partner George E. Zobitz and associate Emily E. Gust on financing matters; and partner J. Leonard Teti II, of counsel Kiran Sheffrin and associates Carlos Nicholas Obando and Josh Banafsheha on tax matters.