Viatris-owned Mylan is looking to sell part of its 5.64% stake in Biocon Ltd through a block deal, according to sources. The transaction is expected to take place in the coming days and could be executed within the next seven to eight days.Mylan acquired the stake after Biocon completed its acquisition of the company’s holding in Biocon Biologics in January 2026 through a combination of a share swap and cash consideration. As part of the transaction, Mylan received a preferential allotment of Biocon shares, taking its stake in the company to more than 6%.
Sources said Mylan subsequently sold a small portion of its holding, reducing its stake to 5.64% as of the March shareholding pattern. The proposed block deal would further pare its investment in Biocon.
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The size of the proposed stake sale, the floor price and the identities of potential buyers could not be immediately ascertained.
Neither Viatris nor Biocon has publicly commented on the proposed transaction.
