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Biocon acquires shares worth Rs2,205.63 crore of Biocon Biologics

Biocon Limited's stake in BBL will be 88.85% following the allotment of shares.

November 25, 2022 9:15 IST | India Infoline News Service
Biocon
Biocon Limited informed that in reference to the proposed acquisition of biosimilars assets of Viatris Inc., by Biocon Biologics Limited (BBL), a subsidiary of the company. BBL has allotted equity shares to Biocon Limited for an amount of Rs2,205.63 crore (~US$ 270 million) on November 23, 2022.

Biocon Limited's stake in BBL will be 88.85% following the allotment of shares.

BBL is a one-of-a-kind, globally integrated biosimilars organisation. It is leveraging cutting-edge science, innovative technology platforms, and advanced research and development capabilities to reduce biologics therapy costs while improving healthcare outcomes.

It has a robust biosimilar molecules research pipeline in diabetes, oncology, immunology, and other non-communicable diseases. BBL, with a team of over 5,000 people, is dedicated to transforming healthcare and lives by providing affordable access to millions of patients worldwide.

At around 9.17 AM, Biocon was trading at Rs276.70 up by 0.99% from its previous closing of Rs274 on the BSE.

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