Bengaluru, Dec 6 (IANS) Biopharmaceuticals company Biocon on Saturday announced to fully integrate its biosimilar unit Biocon Biologics as a wholly owned subsidiary in a $5.5 billion deal.

The company, in a statement, noted that it will acquire the remaining stake in Biocon Biologics from Serum Institute Life Sciences, Tata Capital Growth Fund II, and Activ Pine LLP through a share swap of 70.28 Biocon shares for every 100 Biocon Biologics shares, at a share price of Rs 405.78 per Biocon share. The deal values Biocon Biologics at $5.5 billion.

Kiran Mazumdar-Shaw, Executive Chairperson, Biocon Limited, called the integration “the next chapter in our evolution”.

“Strategically, Biocon will be one of the few companies offering both biosimilars and generics at a global scale. As the only c

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