Biocon CEO plans acquisition, spin-off

Biocon chief Kiran Mazumdar-Shaw says the Indian drug developer is close to completing a multimillion-dollar acquisition to push its products in North American and Europe and plans to spin off its clinical research group--Syngene--into a separately listed company. Shaw added that the spin-off should be completed this year.

"We believe Syngene has attained critical mass that can be leveraged to deliver a strong growth trajectory," says Shaw. "As one of Asia's largest and most profitable contract research companies, Syngene's public float can deliver superior shareholder value."

- read the article in the Hindustan Times

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