Biocon Rings In 2020 With Gusto, PE Investment In Biologics Arm
New Biosphere Subsidiary Set Up
Executive Summary
Private equity group True North continues to back the Biocon group and is picking up a minority stake in Biocon Biologics in a deal that values the subsidiary at $3bn. Separately, another subsidiary, Biocon Biosphere, has also been set up as part of efforts to unlock the full potential of the business.
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COVID-19 Dents Biocon Ahead Of Insulin Opportunity
Biocon’s fourth-quarter earnings were impacted by pandemic-related disruptions, especially its biologics arm, but the Indian firm anticipates a “good recovery.” All eyes will be on the anticipated US launch of biosimilar insulin glargine and its interchangeability status, while the company remains confident of delivering a $1bn FY2022 revenue target for biologics.
COVID-19 Turmoil Dents Biocon In Q4 But Opportunities Including Glargine In Store
Biocon’s fourth quarter earnings were impacted by pandemic-related disruptions, especially its biologics arm, but the Indian firm anticipates a “good recovery”. All eyes will be on the anticipated US launch of biosimilar insulin glargine and its interchangeability status, while the company remains confident of delivering a $1bn FY2022 revenue target for biologics.