BRIEF—$150 million capital injection for Biocon Biologics

The biologics subsidiary of Indian generics company Biocon has received a $150 million capital injection from investment bank Goldman Sachs, subject to customary approvals and conditions.

Biocon Biologics chief executive Christiane Hamacher said the transaction: “demonstrates the confidence that large global institutions have in our capability to become a global leader in biosimilars.”

The firm has three products commercialized in the USA, a biosimilar of Roche’s Herceptin (trastuzumab), a therapeutic protein (pegfilgrastim) and an insulin analog (glargine), through its partner Mylan.

The firm has set a strategic revenue target of $1 billion by the end of 2022.