Shardul Amarchand Mangaldas (SAM) advised Biocon on the proposed $5.5 billion Biologics merger. Khaitan & Co along with Cravath, Swaine and Moore LLP advised on Viatris’ sale of stake in Biocon Biologics to Biocon.

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.

Shardul Amarchand Mangaldas & Co. advised Biocon Limited on the proposed integration of Biocon Biologics to create a global biopharmaceutical platform.

The integration involves Biocon acquiring remaining shareholding in Biocon Biologics through a share-swap and cash consideration, consolidating all biosimilars, generics and biologics operations under one structure.

The Transaction team was led by Partners Natashaa Shroff, & Tarumoy Chaudhuri, and Principal Associate Rounak Agarwal with support from Senior Associate Kriti Saraswat, Associates Mihira Jaggi, and Sohini Banerjee. The Competition team was led by Partners Shweta Shroff Chopra and Supritha Prodaturi, supported by Senior Associate Parinita Kare, Associates Vasudha Verma, Saii S and Janhavi Jyoti S. The Banking team was led by Partner Shubhangi Garg, with support from Associate Ansh Jain. Securities regulatory aspects were led by Partner Yogesh Chande, with support from Associate Anushri Mandal.

Khaitan & Co acted as Indian counsel to Viatris. The core team included Rabindra Jhunjhunwala, Abhishek Dadoo, Aman Anand, Gaurang Mansinghka and Nitya Saxena, with assistance from Rajeev Vidhani and Krishnendu Sen (Banking), Anisha Chand (Antitrust), Ritu Shaktawat (Tax), Aditya George Cheriyan and Chirayu Chandani (Capital Markets).

Cravath, Swaine and Moore LLP acted as international/U.S. Counsel to Viatris. 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.