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Biocon gets shareholders' nod for transfer of biosimilars business

The regulatory filing to the BSE added that Biocon Biologics India is a step down wholly owned subsidiary of the company

Press Trust of India  |  New Delhi 

Biocon
Biocon

Biotechnology major said it has received shareholders' approval to the resolution for transfer of biosimilars business by way of a slump sale to group entity Biologics India.

"The resolution for transfer of Biosimilars business of the company by way of a slump sale as 'Going Concern' to Biologics India Ltd... has been passed by the members of the company with requisite majority," Biocon said.

The regulatory filing to the BSE added that Biocon Biologics India is a step down wholly owned subsidiary of the company.

The special resolution was passed with 99.99 per cent of votes polled through postal ballot, it added.

Shares of Biocon today closed down 0.12 per cent at Rs 521.60 per scrip on BSE.

First Published: Fri, December 08 2017. 20:38 IST
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