Biocon Moves to Fully Own Biologics Unit Valued at $5.5 Billion

Indian pharmaceuticals firm Biocon Ltd. will buy out minority shareholders in Biocon Biologics Ltd. via a mix of cash and shares in a deal that values the biosimilars unit at $5.5 billion.

Biocon will acquire the holdings from Serum Institute Life Sciences, Tata Capital Growth Fund and Activ Pine LLP by swapping 70.28 Biocon shares for every 100 Biocon Biologics shares, at a price of 405.78 rupees ($4.51) per Biocon share, the Bengaluru-based company said in a stock exchange filing Saturday.