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Biocon Finalizes Merger Between Covidshield And Biologics Business

Biocon Biologics Will Have Access To 100 Million Vaccine Doses Each Year

 
• By Chloe Kent

The merger between Serum Institute of India subsidiary Covidshield Technologies and Biocon Biologics has finally completed, subject to requisite approvals, after a Biocon board meeting.

Adar Poonawalla and Kiran Mazumdar-Shaw shake hands
The merger is expected to combine Serum's supply chain with Biocon's marketing prowess • Source: Company

Biocon has announced the merger of its subsidiary Biocon Biologics Ltd with the Serum Institute of India’s subsidiary Covidshield Technologies, subject to requisite statutory approvals. The merger was confirmed in early January at a Biocon board meeting, after the deal was first announced in September.

There is no cash consideration involved with the merger, with Biocon Biologics instead offering a fully-diluted 15% equity share to...

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