The Competition Commission of India (CCI) authorizes the merging of Covidshield Technologies in Biocon Biologics to acquire approximately 15% of equity shares of Biocon Biologics by Serum Institute Life Sciences.The proposed merger includes merger acquisition of Covidshield Technologies Private Limited (CTPL), a wholly owned subsidiary of Serum Institute Life Sciences Private Limited (Acquirer) into Biocon Biologics Limited (Target). on a fully purified basis on Target.
Own manufacturing facility
Acquirer is part of the Serum Institute of India Private Limited and was established as a company to develop and market anti-COVID-19 vaccines and drugs. It also has plans to continue developing vaccines for other infectious diseases. Currently, Mzuzi is in the process of establishing its own manufacturing facility.
CTPL is a fully owned Beneficiary company, which will be integrated into the Targeted Compliance with the Proposed Work. It was integrated into the business of marketing, selling and distributing vaccines, drugs and other pharmaceutical products.
Target is part of Biocon Limited, and provides treatment for chronic and life-threatening diseases such as diabetes, oncology, nephrology, cancer, and autoimmune diseases. Target also has research and development centers in Bengaluru and Chennai. It has production facilities in Bengaluru and Malaysia for monoclonal antibodies, repetitive proteins and insulin.
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