Biocon Biologics to offer 15% stake to Serum Institute unit for access to vaccines By Reuters

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BENGALURU (Reuters) – Biocon Biologics, a unit of drugmaker Biocon Ltd, mentioned late on Thursday it could supply a stake of about 15% to Serum Institute Life Sciences for entry to 100 million doses of vaccines yearly for 15 years, together with COVID-19 pictures.

The take care of the unit of Serum Institute of India (SII), the world’s largest vaccine maker, will worth Biocon Biologics at about $4.9 billion after deal shut, Biocon mentioned https://

As a part of the deal, Biocon Biologics and Serum Institute Life Sciences will make and distribute vaccines and antibodies. SII Chief Govt Officer Adar Poonawalla can even get a seat on the board of Biocon Biologics.

Biocon Ltd’s shares rose as a lot as 4.6% to 394.15 rupees on Friday.

Serum Institute didn’t present any further particulars on the deal when contacted by Reuters, whereas Biocon didn’t instantly reply to a request for remark. Each the businesses are scheduled to carry a press briefing later within the day.

Biocon Biologics partnered with U.S. primarily based Adagio Therapeutics in July to make and commercialise COVID-19 antibody remedies for India and a few rising markets.

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