India's top biotechnology firm, Biocon Ltd, is in talks to acquire a US firm in a deal valued at $400 million to boost its overseas pharmaceutical distribution network.
Biocon which makes insulin, cholestrol-lowering statins and other branded drugs bought 70 percent of German marketing firm Axicorp GmbH for 30 million euros ($47 million) in February to boost its distribution network in Europe.
Showing posts with label Biocon. Show all posts
Showing posts with label Biocon. Show all posts
Monday, April 14, 2008
Wednesday, November 14, 2007
HDFC AMC hikes stake in Biocon to 5.15%
HDFC Asset Management Company (AMC) has hiked its stake in Biocon, a Bangalore-based biotech company.The company in a release to NSE, said it has hiked its stake to 5.15% from existing 4.97% through market purchase from Edelweiss Securities executed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
The HDFC Mutual Fund comprising of HDFC Capital Builder Fund, HDFC Equity Fund, HDFC Children's Gift Fund - Investment Plan, HDFC Growth Fund, HDFC Top 200 Fund, HDFC Long Term Advantage Fund, HDFC TaxSaver, HDFC Core & Satellite Fund, HDFC Premier Multi-Cap Fund, and HDFC Long Term Equity Fund has made investments in Biocon.
Wednesday, July 18, 2007
Biocon to sell enzymes unit to Danish firm
Biocon, a Bangalore-based biotech major, is planning to sell its enzymes business to Novozymes, a Denmark-based global enzymes company, for an undisclosed sum.According to sources, the company is planning to hive off its enzymes business into a separate entity and then sell it to the Danish company.This way, Biocon is planning to exit the enzymes business completely. The Bangalore-based company, however, did not respond to queries in this regard.
According to an investment banker, Biocon may be valued 1.5 to 2 times its enzymes revenues, which were around Rs 95 crore in 2006-07. This can work out to around Rs 150 crore.
The company is taking this hard decision as revenues from the enzymes business have been declining as a percentage of the total revenue for several years - from 20.9 per cent of the total sale in 2004 to 11.5 per cent in 2007. With the growing importance of statins and biopharma, enzymes have become a secondary business.
Read more in The Business Standard article.
According to an investment banker, Biocon may be valued 1.5 to 2 times its enzymes revenues, which were around Rs 95 crore in 2006-07. This can work out to around Rs 150 crore.
The company is taking this hard decision as revenues from the enzymes business have been declining as a percentage of the total revenue for several years - from 20.9 per cent of the total sale in 2004 to 11.5 per cent in 2007. With the growing importance of statins and biopharma, enzymes have become a secondary business.
Read more in The Business Standard article.
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