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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.
Ruchika Sharma joined Medical Dialogue as an Desk Editor for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751