IPO and the pandemic on its radar, Biocon Biologics gets a booster shot from Serum Institute
Adar Poonawalla, CEO, Serum Institute of India and Kiran Mazumdar-Shaw, executive chairperson, Biocon announcing the strategic alliance of the companies; image courtesy: Biocon
Synopsis
The deal improves the value proposition of Biocon Biologics by providing a better cash flow outlook and broadened portfolio ahead of the company’s plan to go for an IPO in the next two to three years. While the deal offers Biocon Biologics a perch in a new business, Serum Institute gets a chance to test the waters beyond vaccines.
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