Intas reportedly readying bid of up to $1B for Biogen biosimilars unit
Maksim Labkouski
Indian drugmaker Intas Pharmaceuticals is reportedly readying a bid for Biogenâs (NASDAQ:BIIB) biosimilars business that could value the unit at up to $1B.
Intas has already submitted a non-binding bid and could submit a binding one later this month, with Goldman Sachs serving as advisor. The bid, however, is still in the early stages, according to the business news outlet Mint, citing people close to the deal.
Sources told Mint that the Biogen unit may be attractive to Intas because of its European portfolio. Intas already has a significant presence in Europe through its 2017 acquisition of generics maker Actavis from Teva (TEVA). 
Last month, Korean news outlets reported that Biogen partner Samsung Bioepis was considering buying the biosimilars unit for under $770M.
Earlier this year, Biogen said it was evaluating strategic options for the division. The company told Mint that it would provide âfurther details on the process when appropriate.â
Biogen has more than 70 biosimilars approved in Europe and 35 in the US. The division generated revenue of $751M in fiscal 2022, according to its website.

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