Biocon - Maiden Foray Into Vaccines Via Serum Alliance: ICICI Direct

Biocon - Maiden Foray Into Vaccines Via Serum Alliance: ICICI Direct

An employee in protective clothing arranges samples inside the research and development center at the Biocon Ltd. campus in Bengaluru, India. (Photographer Dhiraj Singh/Bloomberg)

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ICICI Direct Report

Biocon Biologics Ltd., a subsidiary of Biocon Ltd., has approved the merger of Covidshield Technologies Ltd., subsidiary of Serum Institute Life Sciences with Biocon Biologics.

The company also entered into a strategic alliance with Serum Institute with an offer of 15% stake in Biocon Biologics with post money valuation of the company ~ $4.9 billion.

The alliance gives the company access to 100 million doses of vaccines/annum for 15 years with commercialisation rights (including Covid-19 vaccines) for global markets.

The strategic alliance will also develop antibodies along with a service level agreements for manufacturing and distribution of the vaccines and antibodies.

Click on the attachment to read the full report:

ICICI Direct Biocon Company Update.pdf
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