Indian biopharmaceutical company Biocon is targeting a listing of its biosimilars business by March 2026, according to a top executive. The company also has ambitious goals for its new US launches, aiming for a double-digit market share.
Biocon Biologics CEO Shreehas Tambe told Reuters in an interview that the company plans to launch five new biosimilars in the US in the next fiscal year, starting in April. These new launches, along with four existing biosimilars, will focus on therapeutic areas such as diabetes, oncology, and immunotherapy. Biocon Biologics currently holds a 20% market share with its existing biosimilars, according to Tambe.
Biosimilars are cost-effective alternatives to complex, high-priced biologic drugs, used in the treatment of conditions like 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.
Biocon has been working towards an IPO for its biosimilars business for the past year, focusing on completing the integration of its acquired biosimilars firm Viatris and refinancing debt.
The US market currently contributes approximately 40% of Biocon Biologics' revenue, while Europe accounts for 35%. The company plans to launch three new biosimilars in Europe within the next 18 months.
Tambe also noted the company's expectation to benefit from the growing focus on healthcare affordability, stating, "...there is a bipartisan view on bringing affordability to healthcare and I think biosimilars have a big role to play in this."
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