CCI clears Kotak Special Situations Fund investment in Biocon Biologics
The combination relates to the acquirer (Kotak Special Situations Fund) proposing to purchase certain equity shares in the target (Biocon Biologics).
New Delhi: Fair trade regulator Competition Commission of India has cleared Kotak Special Situations Fund's proposed investment in Biocon Biologics Ltd under the green channel route. In February, Kotak Special Situations Fund, an arm of Kotak Mahindra Bank, announced a Rs 1,070 crore investment in Biocon to help a subsidiary of the Bengaluru-based company in an acquisition.
Biocon Biologics is a biosimilars company which is engaged in the manufacture and commercialisation of pharmaceutical formulations
The Competition Commission of India (CCI) is the chief national competition regulator in India. The Commission was established by the Central Government on 14th October 2003. CCI consists of a Chairperson and 6 Members appointed by the Central Government.
Biocon Biologics Limited, a subsidiary of Biocon Limited, is a fully integrated global biosimilars organization. Biocon Biologics has eight commercialized products in global markets. The company has a portfolio of biosimilar assets, including insulins, monoclonal antibodies and conjugated recombinant proteins in therapeutic areas such as diabetology, oncology, immunology, and ophthalmology. Biocon Biologics has invested over USD 1 billion to date in R&D and global scale manufacturing and has end-to-end capabilities for producing drug substance, drug product and delivery devices across multiple sites in India and Malaysia.
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