Biocon sells 80 lacs equity shares of Syngene International for Rs 686 crores
Bangalore: Biocon has sold Eighty Lacs equity shares of Syngene International Limited for Rs. 686 crores. The transacted value is the gross amount on the exchange and is subject to statutory levies, brokerage etc.
The shares were sold in the open market through a block deal mechanism on December 10, 2024
Post the transaction, the shareholding of the Company in Syngene shall stand at 52.46%.
"None of the buyers belong to the Promoter/ Promoter group/ group companies," the Company stated in a BSE filing.
Medical Dialogues team also reported that Biocon Biologics Limited, a subsidiary of Biocon Limited, has once again been recognized as an Asia IP Elite for 2024 by IAM (Intellectual Asset Management), a Intellectual Property (IP) publication. This is the eighth consecutive year for Biocon and subsequently its subsidiary Biocon Biologics to make it to this prestigious list. This prestigious accolade is awarded to a select group of Asia-based organisations that have demonstrated exceptional IP value creation and are considered leaders in the region.
Read also: Biocon Biologics recognized as Asia IP Elite for 2024 by IAM
This month, Biocon Biologics has received approval from the U.S. Food and Drug Administration (FDA) for YESINTEK (Ustekinumab-kfce), a biosimilar to the reference product, Stelara (Ustekinumab). YESINTEK, a monoclonal antibody, is approved for the treatment of Crohn’s disease, Ulcerative Colitis, Plaque Psoriasis and Psoriatic Arthritis.
Biocon Limited, publicly listed in 2004, is an innovation-led, global biopharmaceutical company. It has developed and commercialized novel biologics, biosimilars and complex small molecule APIs in India and several key global markets, as well as generic formulations in the US and Europe.
Syngene International Ltd. is an integrated research, development, and manufacturing services company serving the global pharmaceutical, biotechnology, nutrition, animal health, consumer goods, and specialty chemical sectors. With a combination of dedicated research facilities for Amgen, Baxter, and Bristol-Myers Squibb as well as 2 Mn sq. ft of specialist discovery, development and manufacturing facilities, Syngene works with biotech companies pursuing leading-edge science as well as multinationals, including GSK, Zoetis and Merck KGaA.
