Biocon Biologics and Serum Institute Life Sciences enter strategic vaccines alliance

17 September 2021

India-based Biocon Biologics (BBL), a subsidiary of India’s Biocon (BSE: 53223), and Serum Institute Life Sciences (SILS) ), a subsidiary of Serum Institute of India, have announced an important strategic alliance that will enable them to make a stronger global impact.

Under the terms of the agreement, BBL will offer an around 15% stake to SILS, at a post-money valuation of ~$4.9 billion, for which it will get committed access to a 100 million doses of vaccines per annum for 15 years, primarily from SILS’ upcoming vaccine facility in Pune with commercialization rights of the SILS vaccine portfolio (including COVID-19 vaccines) for global markets.

Under the terms of the agreement, BBL will generate a committed revenue stream and related margins, commencing second half fiscal year 2023. Adar Poonawalla, chief executive of the Serum Institute, will have a board seat in Biocon Biologics Limited.

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