0

0

0

0

0

0

0

0

0

videos | IST

Exclusive: Biocon Biologics merger with Mylan's biosimilar business in final stages; announcement likely soon

Mini

CNBC-TV18 has exclusively learnt that talks of merger between Biocon Biologics with Mylan's biosimilar business is in the final stages and the announcement is likely soon. Nisha Poddar who had earlier broken the story reported that the merger is likely to be done in part cash, part equity deal.

CNBC-TV18 has exclusively learnt that talks of merger between Biocon Biologics with Mylan's biosimilar business is in the final stages and the announcement is likely soon.
Nisha Poddar who had earlier broken the story reported that the merger is likely to be done in part cash, part equity deal.
It is learnt that Biocon will be paying about $1.5 billion in cash to Mylan and will get a controlling majority in the merged entity.
The merged entity is also likely to be listed in a short period of time which will give Mylan further cash from the transaction.
Both the companies have said they would not like to comment on any of the speculations.
It is also learnt that Adar Poonawalla's Serum Institute of India (SII) which has a 15 percent stake in Biocon Biologics is looking to buy additional stake in the company worth about $500 million and this transaction will provide Biocon the liquidity to pay cash to Mylan.
Watch video for more.