Biocon Limited has successfully completed the acquisition of 1.97 crore equity shares of its material subsidiary, Biocon Biologics Limited (BBL), from an existing investor for ₹5,550 crore in cash. Following this transaction, Biocon’s total stake in BBL has increased to 90.2%, reinforcing its commitment to the biosimilars business.
Transaction details:
- Shares acquired: 1,97,99,305 equity shares of BBL
- Value of acquisition: ₹5,550 crore
- Percentage stake post-acquisition: 90.2%
- Net worth of BBL (as of March 31, 2024): ₹1,76,062.65 crore
- Turnover of BBL (FY24): ₹30,932.50 crore
Strategic importance of the acquisition
This acquisition aligns with Biocon’s long-term strategy to expand its presence in the global biosimilars market, capitalizing on BBL’s robust portfolio of biosimilars across key therapeutic areas such as diabetology, oncology, immunology, and ophthalmology. BBL has already commercialized eight biosimilars in major markets, including the U.S., Europe, Australia, Canada, and Japan, and has 20 biosimilar assets in its pipeline.
Disclaimer: The above information is for informational purposes only and does not constitute financial advice. Investors are advised to conduct their research before making investment decisions.
