Biocon mulls merger of wholly owned subsidiary

Biocon, a Bangalore-based Pharma company is looking for merger of its wholly-owned subsidiary Biocon Biopharmaceuticals with itself. The company will take the final decision on July 25 in a meeting of the Board of Directors of the company, a day before the company’s Annual General Meeting.

Biocon Biopharmaceuticals was established as a joint venture with a Cuban partner in 2003 to provide manufacturing support for biopharmaceuticals, and then became a wholly-owned subsidiary of Biocon in April 2010.

Biocon is Asia’s leading R&D based Biotechnology Company. It produces anti-diabetic agents like Acarbose, Pioglitazone, Repaglinides and Rosiglitazone. In the biological segment it produces Insulin, Erythropoietin (EPO), Filgrastim (GCSF), Streptokinase and Monoclonal Antibodies.