Biocon to fully integrate Biocon Biologics as wholly owned subsidiary

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Biocon Limited has announced a strategic corporate action to fully integrate Biocon Biologics Limited (BBL) as a wholly owned subsidiary into Biocon Limited, subject to applicable approvals.

Biocon Limited is constituting a Governance Council chaired by Kiran Mazumdar-Shaw and a Transition and Integration Management Committee, led by Shreehas Tambe, Chief Executive Officer and Managing Director of Biocon Biologics Limited, to ensure a seamless integration.

The Strategy Committee, constituted in May 2025, undertook a comprehensive evaluation of multiple strategic options for Biocon Biologics Limited, including an IPO and a merger with Biocon Limited.

After careful consideration of key parameters such as strategic alignment, sectoral dynamics, shareholder value creation, and other relevant data, the Committee concluded that full integration of Biocon Biologics Limited with Biocon Limited and making Biocon Biologics Limited a wholly owned subsidiary of Biocon Limited through the acquisition of minority stakes offers the most efficient and value-accretive path forward.

Biocon Limited will acquire the remaining stake in Biocon Biologics Limited from Serum Institute Life Sciences, Tata Capital Growth Fund II and Activ Pine LLP through a share swap of 70.28 Biocon shares for every 100 Biocon Biologics shares, at a share price of Rs 405.78 per Biocon share; valuing Biocon Biologics Limited at $5.5 billion.

Further, Biocon will acquire the residual stake held by Mylan Inc. (Viatris) for a total consideration of $815 million, of which $400 million will be payable in cash and $415 million through a share swap of 61.70 Biocon shares for every 100 Biocon Biologics shares at a share price of Rs 405.78 per Biocon share.

The Board has also approved raising additional capital, of up to Rs 4500 crore ($500 million) through Qualified Institutional Placement (QIP).