News > Biocon Biologics To Offer 15% Stake To Serum Institute Life Sciences At Valuation Of $4.9 Billion

Biocon Biologics To Offer 15% Stake To Serum Institute Life Sciences At Valuation Of $4.9 Billion

BusinessWorld | 17/09/2021 10:44 AM | Click to read full article

Biocon Biologics, a subsidiary of Biocon, on Thursday said it will offer around 15 per cent stake to Serum Institute Life Sciences at a post-money valuation of about USD 4.9 billion. Serum Institute Life Sciences (SILS) is a subsidiary of Serum Institute of India (SII).

For offering the 15 per cent stake, Biocon Biologics Ltd (BBL) will get committed access to 100 million doses of vaccines per annum for 15 years, primarily from SILS' upcoming vaccine facility in Pune.