Biotech
Biocon appoints Peter Bains as Group CEO
"I am delighted to welcome Peter to the Biocon Group in the role of Group CEO. Siddharth Mittal, CEO & MD Biocon Limited, Shreehas Tambe, CEO & MD Biocon Biologics Limited and Jonathan Hunt, CEO & MD Syngene International Limited will continue to have independent charge of their businesses and will work with Peter to strengthen synergistic strategic leadership at a Group level to maximise the combined value of all 3 businesses,” said Mazumdar-Shaw.
On track to integrate major part of Viatris'' acquired biosimilars biz this fiscal: Kiran Mazumdar-Shaw
Biocon Biologics is set to integrate a major portion of the biosimilars business acquired from Viatris in the current fiscal year, according to Kiran Mazumdar-Shaw, Executive Chairperson of Biocon. The integration of the biosimilars business has already been completed in over 70 countries in emerging markets, and the company is now focusing on integrating it in the remaining markets, including North America and Europe.
Competition Commission of India clears Kotak-Biocon Biologics deal
The investment will help Biocon Biologics' acquisition of the biosimilars business of its partner Viatris.
Biocon Biologics announces top leadership appointments
Biocon Biologics Ltd has made several key leadership appointments, including appointing Rhonda Duffy as Chief Operating Officer and Sandeep Athalye as Chief Development Officer. The subsidiary of Biocon Ltd has also hired David Gibson as Global Head - Business Development, who will lead all licensing, strategic partnering, and business development activities.
Biocon Biologics gets eight observations from USFDA for Malaysia insulin facility
The US drug regulator issued 6 observations for drug substance, drug product units and quality Control laboratories and 2 observations for the delivery devices unit of Biocon Sdn Bhd, Malaysia, a subsidiary of Biocon Biologics.
Biocon Biologics takes over Viatris' biosimilar biz in over 70 countries
Biocon Biologics on Wednesday said it has completed the integration of the acquired biosimilars business from Viatris Inc in over 70 countries in emerging markets effective July 1, 2023, increasing the scale and scope of its business. Following the deal closure in November 2022, this marks the first wave of countries where Viatris' operations have fully transitioned to Biocon Biologics, the company said in a statement.
Biocon Biologics may raise additional equity of $300 million in FY24 to pare debt
Biocon Biologics plans to raise a further $300m by the end of FY24 in order to reduce its net debt, which peaked at $1.9bn in December 2022. The additional funds will give the Indian pharmaceutical firm the freedom to develop licence assets and engage in mergers and acquisitions. The company has already raised around $650m via various means, including the sale of a Syngene stake and structured investment deals with Kotak and Edelweiss, which have reduced Biocon's debt to under $1bn.
Global funds keen to buy fertility chain Indira IVF
Several global buyout funds, including Blackstone, Baring PE Asia, EQT, Warburg Pincus, Bain Capital, and KKR, have expressed their interest in acquiring the majority stake in Indira IVF, India's largest chain of fertility clinics. The deal is expected to be valued at around $1bn, and a formal sale process has been launched by investment banks Goldman Sachs and JPMorgan. Indira IVF has 114 centres across the country, and performed about 40,000 IVF procedures in 2022. The Indian fertility industry is expected to reach $3bn by 2030, with IVF cycles costing between INR1.5-2 lakhs ($2,000-$2,700) each.
Serum to double investment in Biocon's unit to $300 mn; aim to generate higher EBITDA going ahead: Kiran Mazumdar-Shaw
The Serum Institute of Life Sciences will double its investment in one of Biocon Ltd's units, giving it access to 100 million doses of vaccines annually along with the distribution rights to Serum's vaccine portfolio, the Indian biopharma firm said on Tuesday. "Serum will not have an operational involvement but have a board seat", says Kiran Mazumdar-Shaw, Executive Chairperson of Biocon Limited.
India's Serum to double investment in Biocon's unit to $300 mln
Serum Institute of Life Sciences is a unit of Serum Institute of India, the world's biggest vaccine maker. Under new terms of the alliance, it would pump in $150 million after converting a loan to Biocon Pharma Ltd into equity in Biocon Biologics Ltd, the company said.
Must Watch
India prohibits use of propylene glycol from supplier linked to Uzbekistan deaths
Soon after India suspended the pharmaceutical company's production. Police this month arrested three Marion employees after tests in a government laboratory found 22 of 36 syrup samples "adulterated and spurious".
Uzbek cough syrup deaths: Process underway to cancel license of Marion Biotech, says official
All production of drugs and other activities at the firm's campus in Sector 67 here have also been stopped completely, Gautam Buddh Nagar drug inspector Vaibhav Babbar said. On Friday, the local police arrested three senior employees of the firm after an FIR was lodged against them on charges of manufacturing and sale of adulterated drugs.
Biocon raises $129 million from Kotak to fund biosimilars deal
India's Kotak Mahindra Group asset management arm said on Wednesday it will invest 10.70 billion rupees ($129 million) in Biocon Ltd to help it fund its acquisition of Viatris Inc's biosimilars business. Biocon Biologics completed the $3.34-billion acquisition of U.S.-based Viatris's biosimilars business in late November.
Biocon Biologics has comprehensive plan to integrate Viatris business: Shreehas Tambe, Biocon Biologics
"There are several other discussions that we have been having with private equity investors who are interested in making an investment in Biocon Biologics and that will help us bring down the $1.2 billion debt ... help us reduce the interest component that we see in the P&L," Shreehas Tambe, chief executive officer and managing director of Biocon Biologics, said in an interview.
USFDA issues CRL for proposed biosimilar Insulin-R: Biocon
The CRL cites additional data required in the BLA submission and an expectation of satisfactory implementation of a corrective and preventive action plan (CAPA) pertaining to the pre-approval inspection of the company's Bengaluru facilities in August last year, it added. "We are in the process of comprehensively addressing the CRL," a Biocon Biologics spokesperson noted.
Gufic Biosciences launches locally made botox injection
Gufic said one of the important feature of ‘Zarbot’ is that it has been manufactured using purified HALL strain and proprietary technology which results in thin film formulation and better stability compared to other botulinum toxin brands.
