Biocon Biologics plans to raise a further $300m by the end of FY24 in order to reduce its net debt, which peaked at $1.9bn in December 2022. The additional funds will give the Indian pharmaceutical firm the freedom to develop licence assets and engage in mergers and acquisitions. The company has already raised around $650m via various means, including the sale of a Syngene stake and structured investment deals with Kotak and Edelweiss, which have reduced Biocon's debt to under $1bn.from Healthcare/Biotech-Industry-Economic Times https://ift.tt/CiyVo3c
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