Biocon raises Rs 1067 crore from Kotak to fund biosimilars deal
"This investment in Biocon comes at a pivotal point when Biocon is forward integrating its biosimilars business," Srini Sriniwasan, managing director at KIAL, said in a statement.
New Delhi: India's Kotak Mahindra Group asset management arm said on Wednesday it will invest 10.70 billion rupees ($129 million) in Biocon Ltd to help it fund its acquisition of Viatris Inc's biosimilars business. Biocon Biologics completed the $3.34-billion acquisition of U.S.-based Viatris's biosimilars business in late November.At the time, the company said it paid $2 billion in cash...
New Delhi: India's Kotak Mahindra Group asset management arm said on Wednesday it will invest 10.70 billion rupees ($129 million) in Biocon Ltd to help it fund its acquisition of Viatris Inc's biosimilars business. Biocon Biologics completed the $3.34-billion acquisition of U.S.-based Viatris's biosimilars business in late November.
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