Biocon

Integrated Core Strategies (Asia) Pte on Tuesday bought shares of biopharmaceutical company Biocon for Rs 185 crore through an open market transaction. According to the bulk deal data available with the National Stock Exchange (NSE), Integrated Core Strategies (Asia) Pte purchased 80,61,599 shares at an average price of Rs 229.26 each share. The aggregate deal value is Rs 184.82 crore. Details about the sellers could not be immediately ascertained. On Tuesday, shares of Biocon closed marginally lower at Rs 229.50 apiece on NSE.

It's a high growth phase for us in Biocon Biologics: We crossed the Rs 1,500-crore mark in revenue for the first time this quarter. We will exit this year (FY23) at Rs 2,000-crore level

This, even as revenues rise 36% and Ebitda is up 35%

Bengaluru-based Biocon had in September 2022 sold a 5.4% stake in the open market, as per an exchange filing

Biocon is expected to get excluded from the index

According to the technical analyst from Anand Rathi, Aurobindo Pharma can rally to Rs 490; while Biocon can jump to Rs 295.

Biotechnology major Biocon on Wednesday said it has initiated a clinical study in collaboration with Equillium Inc to evaluate efficacy of Itolizumab in patients with Ulcerative Colitis. This is a phase two randomised, double-blind, parallel-group, placebo and active-controlled (adalimumab), two treatment period study to evaluate the safety and efficacy of Itolizumab for the induction of remission in biologics naive patients with moderate to severely active Ulcerative Colitis (UC), Biocon said in a statement. Having obtained approval from the Drugs Controller General of India (DCGI), the study will cover several tertiary hospitals specialised in handling UC cases, it added. The first patient who intended to participate in the study was screened on December 1, 2022, the company said. "The commencement of the Phase two clinical study, that will determine its efficacy for the treatment of Ulcerative Colitis, is an important step forward in our efforts to bring its benefit to patients

Sohini Das caught up with Biocon Biologics CEO Shreehas Tambe to know more about the deal and the company's future plans

In a Q&A, the recently named MD & CEO of Biocon Biologics dwells on the scope for an IPO or stake sale to PE investors to retire the debt taken to fund the acquisition

Biocon Biologics on Monday said it has elevated Shreehas Tambe as Managing Director and CEO of the company with immediate effect. Tambe was Deputy CEO of Biocon Biologics, a subsidiary of Bengaluru-based Biocon. He takes over from Arun Chandavarkar, who will continue to serve as a non-executive, non-independent director on the Biocon Biologics board, the company said in a statement. Shreehas is taking on the responsibility of leading Biocon Biologics as MD & CEO at a time when the company is gearing up for global leadership in biosimilars with the closing of the Viatris acquisition, Biocon & Biocon Biologics Executive Chairperson Kiran Mazumdar-Shaw said. Shreehas will be aided by a highly experienced executive leadership team in building a future-ready, world leading biosimilars player and a well-recognised global brand that is committed to impacting global healthcare, she added. Tambe has been with Biocon since 1997 and has held diverse leadership and operational roles.

He was earlier the firm's deputy CEO; Outgoing MD Arun Chandavarkar to remain on co Board

Biocon on Tuesday said its unit Biocon Biologics has completed the multi-billion dollar acquisition of the global biosimilars business of its partner Viatris Inc. In February this year, Biocon Biologics inked a pact to acquire Viatris Inc's biosimilars business for consideration of up to USD 3.33 billion (about Rs 24,990 crore). Biocon Biologics and Viatris have obtained all applicable approvals from key global regulators, including the US Federal Trade Commission, the Competition Commission of India and the Reserve Bank of India, and its investors, the Bengaluru-based company said in a statement. Effective from the date of closing, Biocon Biologics will recognise the combined revenue and associated profits from the acquired products, a step up from the existing profit share arrangement, it added. As a part of completing the transaction, Biocon Biologics has issued Compulsorily Convertible Preference Shares (CCPS) valued at USD 1 billion, equivalent to an equity stake of at least 1

Rising Chinese labour costs, geopolitics, pandemic-stricken uncertainties have forced global players to derisk

Stocks to Watch: Keystone Realtors will debut on the BSE and NSE today. The issue price has been fixed at Rs 541 per share

Siddharth Mittal, CEO & MD, Biocon, elaborates on his plans to grow this business further

CLOSING BELL: A late rally in the market, helped the benchmark indices end the rather lacklustre day with notable gains. Debutant Fusion MicroFinance ended at a 12 per cent discount to issue price.

Biocon's core Ebitda came in at Rs 816 crore, up 34 per cent

Varun Beverages, Tube Investments, IHCL seen as potential inclusions

Biocon Chief Kiran Majumdar-Shaw, who lost her husband, stated that she is devastated. Sharing her thoughts on social media, she maintained that she will always be guided by her husband John Shaw

Biocon founder Kiran Mazumdar-Shaw said she was devastated to lose her husband and will miss him profoundly. John Shaw, who had served the Bengaluru-headquartered biopharmaceutical company as the Vice-Chairman and Non-Executive Director for over 22 years, passed away at a private hospital here on Monday. "I am devastated to lose my husband, my mentor and soul mate. I will always be spiritually guided by John as I pursue my purpose. Rest in Peace my darling John. Thank you for making my life so very special. I will miss you profoundly," Mazumdar-Shah said. John Shaw, a Scotsman and Indophile, headed a leading textiles MNC Madura Coats as Chairman and Managing Director before joining Biocon in 1999. "He has contributed majorly to the transformation of Biocon from a small enzymes company to a globally recognised biopharmaceutical company and has played an important role in ensuring the highest levels of corporate governance in the company, as well as, in the financial and strategic .