Biocon Biologics to provide 15% stake in Serum Institute unit for access to vaccines

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FILE PHOTO: Research scientists work on a vaccine against the coronavirus disease (COVID-19) at the Serum Research Institute, the world’s largest vaccine manufacturer, in Pune, India, May 18, 2020. I work here Reuters / Euan Rocha / File photo

September 17, 2021

BANGALORE (Reuters) – Biocon Biologics, a division of pharmaceutical company Biocon Ltd, on late Thursday night awarded a nearly 15% stake in Serum Institute Life Sciences to receive 100 million vaccines annually for 15 years, including those for COVID-19. was announced. Shot

Biocon said at https://bit.ly/3keBMCq that the deal with a unit of Serum Institute of India (SII), the world’s largest vaccine maker, will value Biocon Biologics at around $4.9 billion.

As part of the agreement, Biocon Biologics and Serum Institute Life Sciences will manufacture and distribute the vaccines and antibodies. SII CEO Adar Poonawalla will also join the board of Biocon Biologics.

On Friday, the share price of Biocon Ltd rose 4.6% to Rs 394.15.

When contacted by Reuters, the Serum Institute did not provide additional details about the transaction, but Biocon did not immediately respond to a request for comment. The two companies plan to hold a press conference later in the day.

Biocon Biologics partnered with US-based Adagio Therapeutics in July to manufacture and commercialize COVID-19 antibody therapeutics for India and some emerging markets.

(Reporting by Rama Venkat in Bangalore, Edited by Shaunak Dasgupta)

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