Biocon gains as subsidiary acquires assets from Pfizer Healthcare

Biocon’s subsidiary, Biocon Biologics has acquired R&D capital assets for 60,000 sq. ft. state-of-the-art ‘bench to pilot scale’ Biologics research facility at TICEL Bio Park in Chennai, India.

Biocon Biologics has acquired these assets from Pfizer Healthcare India. Owing to this development, the shares of Biocon are trading a positive note on Tuesday. The new facility 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.

Biocon is India’s largest and Asia’s leading biotechnology company with a strategic focus on biopharmaceuticals and research services. It is a fully integrated, innovation-driven biopharma enterprise offering affordable solutions for chronic diseases to patient's worldwide.

The shares of Biocon on Tuesday opened at Rs. 226.50 against Monday’s close of Rs. 225.40. At 09:39 hours, it was trading at Rs. 227.85, gaining 1.09 per cent from its previous close. The stock hit an intraday high of Rs. 227.85 and intraday low was Rs. 224.50. Its 52-week high was Rs. 359.18 and 52-week low was Rs. 211.30 per share on the BSE.