Biocon's biosimilar subsidiary is valued at $3.5bn in the deal, which will involve Tata Capital acquiring a stake sized at under 1%.
Tata Capital Growth Fund, an investment vehicle for diversified conglomerate Tata, has agreed to pay Rs 2.25bn ($30m) for a 0.85% stake in Biocon Biologics, a subsidiary of India-based pharmaceutical firm Biocon.
Biocon Biologics develops, produces and commercialises biosimilars – medical treatments that work similarly to already approved drugs – on behalf of Biocon.
The offshoot has so far commercialised three such treatments in at least one of Japan, the United States and the European Union, and has 28 biosimilar…
