Mylan, a subsidiary of Viatris, is planning to divest a portion of its 5.64% stake in Biocon Ltd via a block deal, as per insider information. This transaction is anticipated to occur in the next several days, likely within the upcoming week.
Mylan purchased this stake following Biocon’s acquisition of its interest in Biocon Biologics in January 2026, executed through a mix of share swap and cash arrangements. During this deal, Mylan received a preferential allotment of Biocon shares, increasing its ownership in the firm to over 6%.
According to sources, Mylan later divested a minor fraction of its shares, thus lowering its stake to 5.64% as reflected in the shareholding pattern from March. The planned block deal aims to further reduce its investment in Biocon.
Details regarding the size of the stake sale, the minimum price, and the identities of potential buyers remain unclear.
There has been no public comment from either Viatris or Biocon concerning this proposed transaction.
