Biocon weighs sale of $1.5 billion generic API business

The Kiran Mazumdar-Shaw helmed company made a huge bet on biosimilars by acquiring a portfolio of drugs from global drug major Viatris for $3.34 billion in November last year. That deal was funded by debt taken both by Biocon Ltd and its biosimilars arm Biocon Biologics. Biocon Biologics took loans of $1.2 billion to fund the acquisition.

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