Biocon to invest $200 million on capital expenditure in current fiscal

Biotechnology major Biocon expects to invest $200 million (around Rs 1,500 crore) this fiscal on capital expenditure, according to the company's Annual Report for 2019-20.

Sharing information with the company's shareholders, Biocon CEO and Managing Director Siddharth Mittal said the investment would be split across small molecules and biosimilar verticals.

We expect capex (capital expenditure) spends to be $200 million in 2020-21, split equally between small molecules and the biosimilars businesses, Mittal said.

The capex will be funded through a combination of contribution from internal accruals, debt raise as well as additional private equity investment in Biocon Biologics, he added.