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Biocon’s arm divests BFI Non-Core Business to Eris Lifesciences

10 Nov 2023 Evaluate

Biocon’s subsidiary -- Biocon Biologics has divested the businesses in relation to its non-core branded formulations in India, comprising, inter alia, of generic dermatology and nephrology small molecule formulations (BFI Non-Core Business) to Eris Lifesciences on a ‘slump sale’ basis. Consideration received from such sale/disposal is Rs 366 crore including working capital adjustments. 

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.


Peers
Company Name CMP
Sun Pharma. Inds. 1792.20
Dr. Reddys Labs. 1198.80
Cipla 1333.45
Lupin 2015.00
Zydus Lifesciences 1145.05
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