The Competition Commission of India (CCI) has approved Kotak Special Situations Fund's (KSSF) proposed investment in Biocon’s subsidiary -- Biocon Biologics under the green channel route. The investment will help Biocon Biologics' acquisition of the biosimilars business of its partner Viatris. KSSF is a Sebi-registered alternative investment fund (AIF).
The combination relates to the acquirer (KSSF) proposing to purchase certain equity shares in the target (Biocon Biologics). Under the green channel route, a transaction which does not raise any risk of an appreciable adverse effect on competition is deemed to be approved on being intimated to the anti-trust regulator.
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.
