Biocon is strategically consolidating its biologics business by buying out Mylan's stake in Biocon Biologics, raising ownership to over 98%. The company raised $460 million through a qualified institutional placement and paid $200 million to complete the acquisition. This move is part of a broader strategy to streamline operations and improve financial metrics. By the end of March 2026, Biocon expects to fully integrate the subsidiary, targeting a debt-to-Ebitda ratio closer to 2x from the current 2.5x. The company's focus remains on developing a robust pipeline of biosimilars and GLP-1 treatments while optimizing its balance sheet. The acquisition, valued at $5.5 billion, represents a significant step in Biocon's growth and consolidation strategy in the biopharmaceutical sector.
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