Why did the market react skeptically to your acquisition of Viatris's biosimilar assets?
Replied byKiran Mazumdar-Shaw
Founder & Executive Chairperson at Biocon
Niche: Health & Wellness
Revenue: Approx. $172 Million/month
Location: Bengaluru, Karnataka, India
Started: 1978
The three billion dollar acquisition required us to take on debt, whereas we had previously been debt-free. While the market accepts high debt in massive corporations, they penalized us. We ignored the naysayers, cut the debt, and successfully built a global commercial engine.
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