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Serum Institute Life Sciences -Biocon Biologic Deal Cleared

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PTI    19 May 2022

The Competition Commission of India, CCI has approved the deal between SII’s Covishield technology and Biocon Biologics. As per the deal details, SII will acquire a 15% stake in Biocon Biologics Ltd. Covishield Technologies Pvt. Ltd., a subsidiary owned by SII, that was initially established to undertake the business of marketing, selling, and distributing vaccines and other life-saving drugs will be merged into Biocon Biologics Ltd.

Biocon Ltd. is a subsidiary of Biocon Biologics Ltd. that offers treatments such as Diabetes, Oncology, cancer, auto-immune diseases, etc. with fully dedicated research and development centers, and manufacturing facilities.

Source: The Economic Times

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