Biocon will use the proceeds to finance Biocon Biologics’ acquisition of the biosimilars business of its partner Viatris to create a global vertically integrated biosimilars player
Kotak Special Situations Fund (KSSF), managed by Kotak Investment Advisors Limited (KIAL), recently announced an investment of Rs 1,070 crore in Biocon (BL). Biocon will use the proceeds to finance Biocon Biologics’ acquisition of the biosimilars business of its partner Viatris to create a global vertically integrated biosimilars player.
Srini Sriniwasan, MD, Kotak Investment Advisors said, “This investment in Biocon comes at a pivotal point when Biocon is forward integrating its biosimilars business. Going forward Biocon will realise full revenues and profits from this business. With this, the $1 billion Kotak Special Situations Fund is fully committed. India continues to offer unique and attractive risk-adjusted opportunities for hybrid funding strategies.”
Eshwar Karra, CEO, Kotak Special Situations Fund at Kotak Investment Advisors said, “We are delighted to partner with Biocon and this acquisition financing supports Biocon’s journey of becoming a world-leading, fully integrated biosimilars enterprise.”
