Biocon’s board has approved the acquisition of 1.5% equity in Biocon Biologics for Rs 550 crore, increasing its stake to 90.2%. The deal is expected to complete by February 1, 2025. Despite a significant drop in net profit, revenue and EBITDA have grown. Increased biosimilar market share and strategic approvals are expected to drive future growth.
Source link
Biocon buys back an investor stake in biologics unit, posts Rs 25 crore net profit in Q3FY25
Date:
More like thisRelated
Ahead of US strike on Iran, fund flows into EMs hit a 28-month high
The past two spikes in global fund flows were...
India assures Sri Lanka, Nepal of evacuating their nationals from Iran
India on Saturday (June 21) assured Sri Lanka and...
US strikes on Iran used bunker buster bombs, cruise missiles
The US military used “bunker-buster” bombs in its attack...
Iran says ‘no signs of contamination’ after US strikes nuclear facilities
Iran said early on Sunday (June 22) there were...