CCI approves Serum Institute Life Sciences-Biocon Biologics deal
New Delhi: The Competition Commission of India (CCI) has approved a proposed deal involving Serum Institute Life Sciences, Covidshield Technologies and Biocon Biologics. Once the deal is complete, Serum Institute Life Sciences Pvt Ltd will have about a 15 per cent stake in Biocon Biologics Ltd, according to the notice filed with the regulator.
Covidshield Technologies Pvt Ltd (CTPL), a wholly-owned subsidiary of Serum Institute of Life Sciences, will be merged into Biocon Biologics.
Also Read:Biocon profit declines by 4 percent to Rs 283 crore in Q4
In a tweet on Wednesday, the watchdog said it has cleared the "merger by absorption of Covidshield Technologies into Biocon Biologics in consideration for the acquisition of approximately 15 per cent equity shareholding of Biocon Biologics by Serum Institute Life Sciences."
CTPL was incorporated to undertake the business of marketing, selling and distributing vaccines, drugs and other pharmaceutical products.
Disclaimer: This website is primarily for healthcare professionals. The content here does not replace medical advice and should not be used as medical, diagnostic, endorsement, treatment, or prescription advice. Medical science evolves rapidly, and we strive to keep our information current. If you find any discrepancies, please contact us at corrections@medicaldialogues.in. Read our Correction Policy here. Nothing here should be used as a substitute for medical advice, diagnosis, or treatment. We do not endorse any healthcare advice that contradicts a physician's guidance. Use of this site is subject to our Terms of Use, Privacy Policy, and Advertisement Policy. For more details, read our Full Disclaimer here.
NOTE: Join us in combating medical misinformation. If you encounter a questionable health, medical, or medical education claim, email us at factcheck@medicaldialogues.in for evaluation.