The Business Standard is providing a little more illumination on Biocon's acquisition plans. Flush from the $115 million sale of its enzymes business, the Indian company says it will look to either make investments in other biopharma companies or buy them out entirely as the company stays focused on pharma. Biocon's business centers on APIs, biologicals and proprietary molecules.
"Over the past decade, we have recognized the high growth trajectory of biopharma business verticals and progressively invested in building proprietary know-how and global scale. We believe this is the right time to divest our enzymes business and focus on unleashing the full potential of our biopharma businesses," said Biocon Managing Director Kiran Mazumdar-Shaw.
- check out Biocon's release
- here's the Business Standard report