Liquidity Events
Biocon to merge biologics unit; to acquire stake held by Serum, Mylan in $5.5 B deal
Bengaluru-based, publicly listed biotechnology firm Biocon will fully integrate Biocon Biologics with itself, in a deal valuing the biologics unit at USD 5.5 Billion. As part of the transaction, Biocon will acquire the residual stake in Biocon Biologics from Serum Institute Life Sciences, Tata Capital Growth Fund II and Activ Pine LLP (a unit of PE firm, TrueNorth) through a share swap, valuing Biocon Biologics at USD 5.5 Billion.The share-swap ratio has been fixed at 70.28 Biocon shares for every 100 Biocon Biologics shares, at a share price of INR 405.78 per Biocon share.Biocon will also acquire the residual stake held by Mylan Inc (Viatris) for a total consideration of USD 815 million, of which USD 400 million will be payable in cash and USD 415 million through a share swap.Biocon Biologics ranks among the top five global biosimilar players by revenue, with 10 commercialised products across key markets, while Biocon's generics business offers over 90 products. The integration process is expected to be completed by March 31, 2026.
Between Jan-20 and Jan-21, Biocon Biologics had attracted about USD 330 M from PE-VC investors including Tata Capital Growth Fund, TrueNorth, ADQ and Goldman Sachs.
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