Biocon’s subsidiary-- Biocon Biologics India has received its board approval for primary equity investment by True North. As per the terms of the proposed agreement, True North will Invest Rs 536.25 crore in Biocon Biologics that will eventually translate to a 2.44% minority stake in the biosimilars business post all restructuring, including the filed merger of Biocon Research with Biocon Biologics, valuing Biocon Biologics at Rs 21,450 crore or $3 billion on a pre-money equity basis. Post the completion of this transaction, Biocon will hold 96.07% stake in Biocon Biologics.
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.
