Biocon Approves Rs. 6950 Crore Acquisition of Biocon Biologics
Filing Summary
Biocon Limited’s board approved a significant acquisition of equity shares in Biocon Biologics Limited, valued at up to Rs. 6950 Crores. This transaction involves the issuance of 17,12,79,553 equity shares on a preferential basis to Mylan Inc., Serum Institute Life Sciences, Tata Capital Growth Fund II, and Activ Pine LLP. Additionally, Biocon plans to raise Rs. 4500 Crores through various securities to fund the acquisition. The board also approved an increase in authorized share capital and the issuance of commercial papers worth Rs. 1800 Crores. An Extra-Ordinary General Meeting is scheduled for December 31, 2025.
Biocon Limited’s board of directors has approved the acquisition of equity shares in Biocon Biologics Limited (BBL) from Mylan Inc., Serum Institute Life Sciences, Tata Capital Growth Fund II, and Activ Pine LLP. The acquisition is valued at up to Rs. 6950 Crores and involves issuing 17,12,79,553 equity shares of Biocon on a preferential basis. This transaction is subject to necessary approvals from shareholders and regulatory authorities.
The financial terms of the acquisition include a share swap and cash consideration. Biocon will issue equity shares at a price of Rs. 405.78 each, aggregating to Rs. 6950 Crores, for the acquisition of 26,19,17,480 shares of BBL. Additionally, Biocon will pay USD 400 million in cash to Mylan Inc. for acquiring 14,36,69,382 shares. The company also plans to raise Rs. 4500 Crores through various securities, including equity shares and non-convertible debt instruments, to fund the acquisition.
Operationally, the acquisition will result in Biocon acquiring a significant stake in BBL, a material subsidiary engaged in biosimilar biologics. The transaction aims to integrate BBL’s operations with Biocon, simplifying the corporate structure and enhancing capital allocation strategies. The acquisition is expected to consolidate resources and leverage complementary portfolios, commercial, and manufacturing infrastructure.
The timeline for completing the acquisition is set for on or before March 31, 2026, pending shareholder approval and in-principle approval from stock exchanges. An Extra-Ordinary General Meeting (EGM) is scheduled for December 31, 2025, to seek shareholder approval for the transaction and related matters.
The parties involved in the transaction include Biocon Limited as the acquiring entity and Mylan Inc., Serum Institute Life Sciences, Tata Capital Growth Fund II, and Activ Pine LLP as the selling shareholders. Mylan Inc. is a subsidiary of Viatris Inc., a related party to BBL. The transaction involves both cash and non-cash considerations, with specific share swap ratios outlined for each selling shareholder.
In the context of the market, this acquisition aligns with Biocon’s strategy to enhance its biosimilar capabilities and expand its global footprint. BBL, as a fully integrated global biosimilars company, serves over 120 countries and has commercialized 10 biosimilars. The integration with Biocon is expected to deliver operational synergies and increase market reach.
Biocon Limited is a leading biopharmaceutical company focused on delivering affordable innovation. It specializes in biologics, biosimilars, and generic formulations, aiming to enhance access to high-quality healthcare solutions globally. The company’s strategic initiatives include expanding its biosimilar portfolio and strengthening its position in the global pharmaceutical market.