Serum Institute To Double Investment In Biocons Unit To $300 Million - Qoneqt
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    Sonal Shridhar Shinde in News

    25-Apr-2023 11:16 AM


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    Serum Institute To Double Investment In Biocon's Unit To $300 Million

    The Serum Institute of Life Sciences will double its investment in one of Biocon Ltd's units, giving it access to 100 million doses of vaccines annually along with the distribution rights to Serum's vaccine portfolio, the Indian biopharma firm said today.
    Serum Institute of Life Sciences is a unit of the Serum Institute of India, the world's biggest vaccine maker.
    Under new terms of the alliance, it would pump in $150 million after converting a loan to Biocon Pharma Ltd into equity in Biocon Biologics Ltd, the company said.
    Biocon signed an agreement in September 2021 to offer about a 15% stake in Biocon Biologics to the Serum Institute of Life Sciences.
    Source: NDTV