Biocon Boosts Biocon Biologics Stake to 98% After $200 Million Mylan Buyout

• Biocon Ltd completed the acquisition of remaining equity shares of Biocon Biologics Ltd (BBL) from Mylan Inc for $200 million.
• This transaction concludes the full acquisition from Mylan Inc, bringing Biocon's total stake in BBL to approximately 98% on a fully diluted basis.
• The acquisition is part of a larger board-approved plan to acquire 14.37 crore equity shares of BBL from various investors for $400 million.
• Biocon recently raised ₹4,150 crore through a Qualified Institutional Placement (QIP) by issuing 11.26 crore equity shares.
• Proceeds from the QIP will be used to fund the cash consideration for the acquisition of Biocon Biologics shares from Mylan Inc.

Why It Matters: Biocon significantly increased its ownership in Biocon Biologics to 98% by completing a $200 million buyout from Mylan Inc.