Biocon has received approval for sale of Branded Formulations India (BFI) Business of the Company on a 'going concern' basis to Biocon Biologics India (BBIL), a wholly owned subsidiary. The transfer of BFI business on slump sale basis will lead to consolidation of marketing and manufacturing activities relating to BFI business under a single entity with common leadership and achieve synergies / value accretion for the group. The Board of Directors of the Company at its meeting held on June 17, 2019 has approved the same.
Biocon is India’s largest and Asia’s leading Biotechnology Company with a strategic focus on biopharmaceuticals and research services. It is a fully integrated, innovation-driven biopharma enterprise offering affordable solutions for chronic diseases to patient's worldwide.