Biocon Biologics Ltd, the biologics and insulin subsidiary of Biocon,  said on Sunday that it has entered into a definitive agreement with its US partner Viatris Inc to acquire the latter’s biosimilars business to create a uniquely  integrated global biosimilars enterprise. Viatris will receive consideration of up to $3.33 billion, including cash up to $2.33 billion and compulsorily convertible preference shares (CCPS) in BBL, valued at $1 billion.