Biocon’s subsidiary company -- Biocon Biologics’ board has approved a Rs 1,125 crore ($150 million) capital injection from Goldman Sachs. As per the terms of the proposed agreement, Goldman Sachs will be issued Optionally Convertible Debentures at a post money equity valuation of $3.94 billion. The transaction is subject to customary approvals and conditions. This capital injection by Goldman Sachs will enable Biocon Biologics to make prudent investments in R&D, high-quality manufacturing, as well as, establish a global commercial footprint.
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.
