Biocon raises $129 million from Kotak to fund biosimilars deal

India's Kotak Mahindra Group asset management arm said on Wednesday it will invest 10.70 billion rupees ($129 million) in Biocon Ltd to help it fund its acquisition of Viatris Inc's biosimilars business. Biocon Biologics completed the $3.34-billion acquisition of U.S.-based Viatris's biosimilars business in late November.

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