Biocon may sell 11% in Syngene IPO

By: |
Bangalore | Published: April 29, 2015 2:46:17 AM

Biocon on Tuesday said it would sell up to 11% in its contract research arm Syngene in the upcoming IPO.

Biocon on Tuesday said it would sell up to 11% in its contract research arm Syngene in the upcoming IPO.

“We are unlocking value from Syngene to fund our R&D programmes, which include a rich pipeline of biosimilars and novel biologics. This fund infusion will help accelerate these programmes which are at various stages of development currently,” said Kiran Mazumdar-Shaw, chairman and MD, Biocon.

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