Biotechnology major Biocon on Tuesday said its subsidiary has acquired a Chennai-based biological research facility from Pfizer Healthcare for an undisclosed amount.
Biocon Biologics has acquired research and development (R&D) capital assets of a 60,000-square feet research facility at Ticel Bio Park in Chennai, Biocon said in a statement.
"The high-end integrated R&D facility in Chennai will enable Biocon Biologics to expand its R&D capability and accelerate its journey towards meeting its strategic long-term goal of addressing the needs of millions of patients worldwide," Biocon Biologics CEO Christiane Hamacher said.
This investment will allow the company to fast-forward development of its biosimilars from lab to pilot scale, he added.
The facility will house an early stage research and innovation centre, including a pilot scale R&D unit equipped with cell line development, drug product formulation laboratories and analytical R&D laboratories.
The facility is expected to be operational in a few months post qualification and will house over 250 scientists.
This acquisition provides Biocon Biologics a significant time advantage in comparison to setting up a greenfield R&D project and will accelerate the global development of its biosimilars portfolio, the company said.
At present, the company has an R&D centre at Bengaluru.
Biocon Biologics has a product pipeline of 28 molecules, including 11 with Mylan, few with Sandoz and rest on its own.
Biocon shares were trading 0.64 per cent higher that their previous close at Rs 226.85 on the BSE.
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