{"id":2959,"date":"2020-01-07T05:07:02","date_gmt":"2020-01-07T05:07:02","guid":{"rendered":"https:\/\/jobbinghood.com\/finance\/2020\/01\/07\/true-north-to-invest-rs-536-25-crore-in-biocon-biologics-for-2-44-stake\/"},"modified":"2020-01-07T05:07:02","modified_gmt":"2020-01-07T05:07:02","slug":"true-north-to-invest-rs-536-25-crore-in-biocon-biologics-for-2-44-stake","status":"publish","type":"post","link":"https:\/\/jobbinghood.com\/magazine\/2020\/01\/07\/true-north-to-invest-rs-536-25-crore-in-biocon-biologics-for-2-44-stake\/","title":{"rendered":"True North to invest Rs 536.25 crore in Biocon Biologics for 2.44% stake"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"article-image\">\n<figure><img fetchpriority=\"high\" decoding=\"async\" class=\"lazy lazy-hidden size-full wp-image-1814720\" src=\"http:\/\/www.financialexpress.com\/wp-content\/plugins\/a3-lazy-load\/assets\/images\/lazy_placeholder.gif\" data-lazy-type=\"image\" data-src=\"https:\/\/images.financialexpress.com\/2020\/01\/1-138.jpg\" alt=\"Shares of Biocon Ltd were trading at Rs 287.40 per scrip on the BSE, down 4.53 per cent from its previous close.\" width=\"660\" height=\"440\" srcset=\"\" data-srcset=\"https:\/\/images.financialexpress.com\/2020\/01\/1-138.jpg 660w, https:\/\/images.financialexpress.com\/2020\/01\/1-138-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2020\/01\/1-138-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2020\/01\/1-138-401x267.jpg 401w\" sizes=\"(max-width: 660px) 100vw, 660px\"\/><noscript><img decoding=\"async\" class=\"size-full wp-image-1814720\" src=\"https:\/\/images.financialexpress.com\/2020\/01\/1-138.jpg\" alt=\"Shares of Biocon Ltd were trading at Rs 287.40 per scrip on the BSE, down 4.53 per cent from its previous close.\" width=\"660\" height=\"440\" srcset=\"https:\/\/images.financialexpress.com\/2020\/01\/1-138.jpg 660w, https:\/\/images.financialexpress.com\/2020\/01\/1-138-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2020\/01\/1-138-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2020\/01\/1-138-401x267.jpg 401w\" sizes=\"(max-width: 660px) 100vw, 660px\"\/><\/noscript><span class=\"article-caption\">Shares of Biocon Ltd were trading at Rs 287.40 per scrip on the BSE, down 4.53 per cent from its previous close.<\/span><\/figure>\n<\/div>\n<p>Biotechnology major Biocon on Monday said private equity firm True North will invest Rs 536.25 crore to acquire 2.44 per cent stake in its arm Biocon Biologics, valuing the subsidiary at Rs 21,450 crore on a pre-money equity basis.<\/p>\n<p>The board of Biocon Biologics India Ltd has approved a primary equity investment by True North. As per the terms of the proposed agreement, True North will invest Rs 536.25 crore and will eventually translate to a 2.44 per cent minority stake in the biosimilars business after all restructuring, including the filed merger of Biocon Research Ltd with Biocon Biologics, Biocon said in a filing to the BSE.<\/p>\n<p>This values Biocon Biologics at Rs 21,450 crore or around USD 3 billion, on a pre-money equity basis, it added.<\/p>\n<p>\u201cThis investment is an endorsement of the value that Biocon Biologics has demonstrated as a global biosimilars player, having commercialised three of its molecules in developed markets such as the EU, the US, Japan and Australia,\u201d Biocon Chairperson and MD Kiran Mazumdar-Shaw said.<\/p>\n<p>This is at an important inflection point as, \u201cwe gain commercial success with our first wave of Biosimilar products and invest in the long term through broadening our pipeline, expanding our manufacturing capacity and increasing our commercial footprint,\u201d she added.<\/p>\n<p>In similar vein, Biocon Biologics CEO Christiane Hamacher said the investment by True North in Biocon Biologics reflects a high level of conviction in Biocon Biologics\u2019 status as a global frontrunner in biosimilars that is leveraging its large-scale manufacturing capabilities to shift the access paradigm for these life-saving therapies.<\/p>\n<p>\u201cTrue North has had a long successful association with Kiran Mazumdar-Shaw and the entire Biocon team and see them as pioneers and leaders in specialised niches,\u201d True North partner Satish Chander said.<\/p>\n<p>True North is happy to associate with them for the third time through this investment in Biocon Biologics. Biosimilars is a fast-growing industry that addresses a fundamental need of bringing affordability to specialised effective biologic products, he added.<\/p>\n<p>Biocon Biologics has a product pipeline of 28 molecules, including 11 with Mylan, several with Sandoz, and is developing many independently.<\/p>\n<p>Shares of <a target=\"_blank\" href=\"http:\/\/www.financialexpress.com\/market\/stock-market\/biocon-ltd-stock-price\/\" rel=\"noopener noreferrer\">Biocon Ltd<\/a> were trading at Rs 287.40 per scrip on the BSE, down 4.53 per cent from its previous close.<\/p>\n<div class=\"common-bottom-text\">\n<p>Get live <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/\" target=\"_blank\" rel=\"noopener noreferrer\">Stock Prices<\/a> from BSE and NSE and latest NAV, portfolio of <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/\" target=\"_blank\" rel=\"noopener noreferrer\">Mutual Funds<\/a>, calculate your tax by <a href=\"https:\/\/www.financialexpress.com\/income-tax-calculator\/\" target=\"_blank\" rel=\"noopener noreferrer\">Income Tax Calculator<\/a>, know market\u2019s <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-gainers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Gainers<\/a>, <a href=\"http:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-losers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Losers<\/a> &amp; <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/equity-funds\/\" target=\"_blank\" rel=\"noopener noreferrer\">Best Equity Funds<\/a>. Like us on <a href=\" https:\/\/www.facebook.com\/thefinancialexpress\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a> and follow us on <a href=\" https:\/\/twitter.com\/FinancialXpress\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>[ad_2]<br \/><\/p>\n<div class=\"jobbi-after-content-jh-placement jobbi-entity-placement\" id=\"jobbi-863328186\"><div id=\"jobbi-3400194778\"><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-5862940809620110\" crossorigin=\"anonymous\"><\/script><ins class=\"adsbygoogle\" style=\"display:block;\" data-ad-client=\"ca-pub-5862940809620110\" \ndata-ad-slot=\"\" \ndata-ad-format=\"auto\"><\/ins>\n<script> \n(adsbygoogle = window.adsbygoogle || []).push({}); \n<\/script>\n<\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>[ad_1] Shares of Biocon Ltd were trading at Rs 287.40 per scrip on the BSE, down 4.53 per cent from its previous close. Biotechnology major Biocon on Monday said private equity firm True North will invest Rs 536.25 crore to acquire 2.44 per cent stake in its arm Biocon Biologics, valuing the subsidiary at Rs [&hellip;]<\/p>\n","protected":false},"author":348,"featured_media":2960,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-2959","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets"],"_links":{"self":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/2959","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/users\/348"}],"replies":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/comments?post=2959"}],"version-history":[{"count":0,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/2959\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media\/2960"}],"wp:attachment":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media?parent=2959"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/categories?post=2959"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/tags?post=2959"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}