Goldman Sachs To Invest 150 Million Dollars In Biocon Biologics.

Must Read

Hong Kong’s Carrie Lam vows to restore stability

Chief Executive of Hong Kong Carrie Lam has marked the turmoil that shook the region a year ago as...

Joe Biden Creates Records By Becoming First US Presidential Candidate To Win More Than 80 Million Votes

Joe Biden has become the US's first official possibility to prevail upon 80 million votes, with his record-breaking number...

Queen Of The South Season 5: Further Expansion Of The Empire

The Queen of the South revolves on a poor woman who suffers due to a lack of wealth. Thereafter,...
Snata Priyadarshini
Snata Priyadarshini
My name is Snata Priyadarshini. I am a Software Engineer by profession in an MNC. I was born in Odisha and currently settled in Pune. I am an avid reader and I love to travel. I have been associated with content writing since my college days. Even in my office I have been associated with my office's newsletter. I am looking for a career change as a full time content writer.

On 7th November 2020, Biocon announced that the board of its IPO-bound subsidiary Biocon Biologics has approved a 150 million dollar capital injection from Goldman Sachs.

According to the terms of the proposed agreement, Goldman Sachs will be issued Optionally Convertible Debentures at a post-money equity valuation of 3.94 billion dollars. This transaction will be subject to customary conditions and approvals.

According to Kiran Mazumdar-Shaw who is the Executive Chairperson of Biocon, they are happy to welcome a capital injection by Goldman Sachs. They are welcoming this at this inflection point of the Biocon Biologics journey. This is in the company’s quest for global leadership in providing affordable access via Biosimilar drugs. The transaction is a part of the strategic plan of value creation for Biocon’s shareholders through Biocon Biologics.

Biocon Biologics has raised $30 million from Tata Capital Growth Fund,  valuing the company at $3.5 billion.
Credit – Business Insider India

Three Products Of Biocon Biologics Is Commercialized In US Market

The CEO of Biocon Biologics says that Goldman Sachs’ capital infusion demonstrates the confidence that big global institutions have in their capability to become world leaders in Biosimilars. Three of their products have already been commercialized in the US market. With this, they continue to strive towards expanding access for their patients. They also strive to unlock value for their shareholders.

Goldman Sachs’s capital injection will enable Biocon to make prudent investments. These investments will be in research and development, in high-quality manufacturing, and also in establishing a global commercial footprint. They are confident of achieving their aspiration and goal of serving 5 million patients through their biosimilars portfolio. They also have the aim of attaining a revenue target of 1 billion dollars by FY22. By this, they will also be creating value for their shareholders who have supported them in this journey.

- Advertisement -

With an excellent track record in R&D and also worldwide strategic partnerships, the company is in a very good position to continue to grow. And also be a major global player in this dynamic segment of the pharmaceutical industry.

Biocon Biologics is developing high-quality, and affordable biosimilars. These biosimilars will also expand patient access to a cutting-edge class of therapies across the globe.

The company has the full spectrum of insulins in its pipeline and also on a global scale. This is necessary to make a difference to diabetes patients around the world.

It is also the only company from India to enable affordable access to three products. The products are a biosimilar monoclonal antibody, a therapeutic protein, and an Insulin analog. These are for patients in the United States through the company’s partner, Mylan.

Latest News

Teen Wolf Season 7: Latest Update!

Teen Wolf is a TV drama series for teenagers. The show is based on Jeph Loeb's and Matthew Weisman's...

Joe Biden Creates Records By Becoming First US Presidential Candidate To Win More Than 80 Million Votes

Joe Biden has become the US's first official possibility to prevail upon 80 million votes, with his record-breaking number of well-known votes still prone...

Queen Of The South Season 5: Further Expansion Of The Empire

The Queen of the South revolves on a poor woman who suffers due to a lack of wealth. Thereafter, taking the help of certain...

Merlin Season 6: Here’s Everything We Know!

Season 6 of Merlin: was mentioned whether or not it was broadcast in the sixth season. In 2012, it was publicly announced that the...

The Family Man Season 2: The Spy Next Door Returns

The Family Man is an Amazon Prime Video which is the creation of Raj Nidimoru and Krishna D.K. It starts the fan-favorite Manoj Bajpayee...