Biocon has received another influx of cash for its Biocon Biologics biosimilars arm, with a $30m investment from private equity group Tata Capital. Ahead of plans to realize $1bn of sales by its financial year ending March 2022, Biocon has been reorganizing and financing Biocon Biologics, with an initial public offering also on the cards by 2023.
Biocon has agreed to a INR2.25bn ($30m) investment in its biosimilars business, Biocon Biologics India Limited, by private equity fund Tata Capital Growth Fund in exchange for a 0.85% minority holding, in a move that values Biocon Biologics’ total equity at roughly $3.5bn.
“The equity infusion by Tata Capital will enable Biocon Biologics’ future growth through prudent capital allocation,” the Indian firm commented,...
Melinta Therapeutics has prevailed at the Federal Circuit in a patent dispute over its reformulated intravenous antibiotic Minocin, with the appeals court upholding both infringement and validity and leaving Nexus Pharmaceuticals barred from launching a generic until 2031.
Mounjaro, Eliquis, and Darzalex buck the Q1 trend to make gains
The UK government has said it will invest almost £30m ($40.4m) in AI technologies to modernize the NHS and reduce wait times – but for the medtech sector, the devil will be in the details.
The UK government has said it will invest almost £30m ($40.4m) in AI technologies to modernize the NHS and reduce wait times – but for the medtech sector, the devil will be in the details.
Mounjaro, Eliquis, and Darzalex buck the Q1 trend to make gains
