Biocon has acquired 7,18,34,691 equity shares representing 3.05% of total shareholding of its unlisted material subsidiary -- Biocon Biologics (BBL) from Mylan Inc for a consideration of $200 million. With this acquisition, the company has completed acquisition of 6.10% stake held by Mylan Inc. in BBL. Post this acquisition, the company holds around 98% of the paid-up equity share capital of BBL on a fully diluted basis.
Earlier in December, the Board of Directors had approved the acquisition of equity shares of BBL held by various Investors, including acquisition of 14,36,69,382 equity shares from Mylan Inc.
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.
