Abu Dhabi's ADQ to invest $75 mn in Biocon Biologics for 1.8% stake

Transaction values firm, which plans to list and is a subsidiary of Biocon, at $4.17 bn

Biopharmaceutical major Biocon said on Thursday the board of its subsidiary Biocon Biologics has approved a capital injection of $75 million from Abu Dhabi-based ADQ.

According to the terms of the proposed agreement, ADQ will get a 1.8 per cent stake in the biosimilar business, valuing Biocon Biologics at a post money valuation of $4.17 billion. “This investment is an endorsement of the value that the Biocon Biologics business has built as a fully integrated pure-play biosimilars company and will enable us to expand our capabilities further. We are committed to pursue our affordable innovation model to generate savings for