IPO and the pandemic on its radar, Biocon Biologics gets a booster shot from Serum Institute

IPO and the pandemic on its radar, Biocon Biologics gets a booster shot from Serum Institute

• By Staff Writer

The deal improves the value proposition of Biocon Biologics by providing a better cash flow outlook and broadened portfolio ahead of the company’s plan to go for an IPO in the next two to three years. While the deal offers Biocon Biologics a perch in a new business, Serum Institute gets a chance to test the waters beyond vaccines.

India’s leading entrepreneurs Kiran Mazumdar-Shaw and Adar Poonawalla struck an unusual but interesting deal last week. Biocon Biologics, the biosimilars arm of Mazumdar-Shaw’s company Biocon, entered into a strategic alliance with Serum Institute Life Sciences Pvt Ltd, a subsidiary of Poonawalla’s Serum Institute of India, to make a foray into vaccines. According to the deal, Biocon Biologics will get access to 100 million doses of vaccines per