Integrated Core Strategies Buys Stake Worth Rs.185cr In Biocon
CEOInsights Team, 0
Kotak Special Situations Fund (KSSF) Has Announced An Rs.1,070 Crore Investment In Biocon, An Indian Biopharmaceutical Conglomerate
Compared to the same quarter last year, Biocon's revenue from operations increased 35 percent to Rs.2,941 crore in Q3FY23. On February 14th, Kiran Mazumdar-Shaw, Executive Chairperson, Biocon and Biocon Biologics in Q3 financial report said, "Q3 FY23 was an eventful quarter, with the global acquisition of our partnered Biosimilars business from Viatris completed on November 29th, 2022. We are now implementing country-by-country business integration to maximise the combined entity's value and propel growth. Biosimilars as a business segment provides Biocon Biologics with differentiated growth through vertical integration and a unique portfolio of insulins and antibody-based immunotherapeutics. This quarter only includes a portion of the acquired business; however, beginning in Q4FY23, the financials will include the entire Biosimilars business".