Biocon Biologics is in talks with ADQ, the Abu Dhabi government’s sovereign wealth fund, to buy a stake into Biocon Biologicals. It may be recollected that Biocon Biologicals is the bio-similar arm of Biocon and it is planning an IPO soon. Very recently, Biocon had announced a $150 million infusion into the company by Goldman Sachs.
For Biocon Biologicals, this effectively translates into an equity valuation of $3.94 billion. The IPO is targeted to h it the market in India over the next 2-3 years. This deal could also mark the first investment by ADQ into the Indian pharmaceutical sector.
ADQ is in talks to invest $100 million in Biocon Biologics and due diligence is in process right now. Biocon Biologics will build value and invest in its R&D and manufacturing capabilities. For ADQ, it gives exposure to a high-quality pharma and healthcare play in India with strong pedigree. Bio-similars are biologic products similar to biologic medicines.
Biocon Biologicals has set a target of serving 5 million patients and clocking $1 billion in revenues by FY22. Towards this end, the ADQ deal will help as ADQ can help Biocon Biologics get better access to the Middle East market.
Biocon Biologics is in talks with ADQ, the Abu Dhabi government’s sovereign wealth fund, to buy a stake into Biocon Biologicals. It may be recollected that Biocon Biologicals is the bio-similar arm of Biocon and it is planning an IPO soon. Very recently, Biocon had announced a $150 million infusion into the company by Goldman Sachs.
For Biocon Biologicals, this effectively translates into an equity valuation of $3.94 billion. The IPO is targeted to h it the market in India over the next 2-3 years. This deal could also mark the first investment by ADQ into the Indian pharmaceutical sector.
ADQ is in talks to invest $100 million in Biocon Biologics and due diligence is in process right now. Biocon Biologics will build value and invest in its R&D and manufacturing capabilities. For ADQ, it gives exposure to a high-quality pharma and healthcare play in India with strong pedigree. Bio-similars are biologic products similar to biologic medicines.
Biocon Biologicals has set a target of serving 5 million patients and clocking $1 billion in revenues by FY22. Towards this end, the ADQ deal will help as ADQ can help Biocon Biologics get better access to the Middle East market.