Biocon Biologics gets a boost with S&P credit rating upgrade
Biocon Biologics just got a thumbs-up from S&P Global Ratings, who bumped their credit rating up to BB+ and changed the outlook to Stable.
This comes after some smart money moves—like settling $1 billion in shares with Viatris through equity swaps and raising $460 million in fresh funds this month.
Why does it matter?
S&P expects adjusted debt to decline over the next 12-24 months (i.e., roughly by Jan 2027-Jan 2028), Biocon's finances are looking much healthier.
S&P thinks their biosimilars business will keep growing—thanks to both existing products and new ones like Denosumab.
Plus, S&P cited favorable trends in areas like GLP-1 therapies and cancer treatments, and Biocon Biologics operates in over 120 countries.
Basically, Biocon is on a strong growth track, which is good news if you're watching the biotech space or interested in how big financial decisions can shape a company's future.