News Update

Biocon Biologics to offer 15 pc stake to Serum Institute Life Sciences at valuation of $4.9B

• ByAyushi Ray     |    September 17, 2021

 

Biocon Biologics to offer 15 pc stake to Serum Institute Life Sciences at valuation of $4.9B. This will get them committed to have  access to 100 million doses of vaccines per annum for 15 years, primarily from SILS’ upcoming vaccine facility in Pune with commercialisation rights of the SILS vaccine portfolio, including COVID-19 vaccines, for the global market, Biocon said in a regulatory filing. “Pursuant to the terms of the agreement, BBL will generate a committed revenue stream and related margins, commencing H2, FY23. Adar Poonawalla will have a Board seat in Biocon Biologics Limited,” it added. In addition to vaccines, the strategic alliance will also develop antibodies targeting several infectious diseases like dengue and HIV.

“This alliance will complement the strengths and resources of the two leading players in vaccines and biologics. Our shared vision of building large scale businesses having global impact makes it a unique and synergistic value creation opportunity,” Biocon and Biocon Biologics Executive Chairperson Kiran Mazumdar-Shaw said. The two companies will enter Service Level Agreements for manufacturing and distribution of the vaccines and antibodies. “We look forward to complementing each other’s capabilities and capacities in vaccines and biologics, with the objective of addressing inequitable access both in emerging and developed markets for life saving vaccines and biologics,” Serum Institute of India CEO Adar Poonawalla said. Biocon Biologics will also establish, at its cost, a vaccine R&D division to support the strategic alliance in developing both vaccines and biologics for communicable diseases.

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