Biocon Biologics to offer 15% stake to Serum Institute unit for access to vaccines By Reuters
BENGALURU (Reuters), – Biocon Biologics on Thursday said it would give a 15 percent stake to SerumInstitute Life Sciences to allow them to access 100 million vaccines per year for the next fifteen years.
The deal with the unit of Serum Institute of India (SII), the world’s largest vaccine maker, will value Biocon Biologics at about $4.9 billion after deal close, Biocon said https://
As part of the deal, Biocon Biologics and Serum Institute Life Sciences will make and distribute vaccines and antibodies. Biocon Biologics will be seated with Adar Poonawalla, Chief Executive Officer of SII.
Biocon Ltd shares increased by 4.6% to 394.15 Rupees Friday.
Reuters contacted Serum Institute, who did not give any further details about the deal. Biocon didn’t immediately reply to a request for comment. They will both hold a press conference later in the day.
Biocon Biologics joined with Adagio Therapeutics (USA) in July for the production and marketing of COVID-19 anti-bodies to India and certain emerging markets.
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