A large deal is brewing in the pharmaceutical sector. CNBC-TV18 has learnt that Biocon is engaged in talks with
Mylan Laboratories for a merger of
Biocon Biologics with Mylan’s biosimilar business. Should this large transaction go through, it would scale up Biocon's biosimilar business and unlock value.
Both the companies already have an exclusive business partnership for some of their portfolio biosimilar products. Biocon is looking to unlock value through this merger, scale up the business, obtain global reach, and subsequently go for a listing of over $10 billion in valuation of the combined entity.
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It is also understood that Biocon is keen on taking a controlling stake in the merged entity. It may even look at buying some stake from Mylan as part of the merger deal, which may give some much-needed cash to Mylan.
Earlier, over the past years, Biocon has unlocked value in Biocon Biologics through several rounds of fund-raises. The latest fund-raise values Biocon Biologics at around $5 billion.
Watch the accompanying video of CNBC-TV18’s Nisha Poddar for more details.
(Edited by : Thomas Abraham)
First Published: Dec 9, 2021 12:37 PM IST