The government, in its Draft Pharmaceutical Policy – 2017, had proposed several incentives to encourage local industries to take up the manufacture of bulk drugs. This included giving preference to the formulations produced from indigenously produced APIs in government procurements and taking them out of price control for five years.
“Amongst all such opportunities that the company is presently evaluating, it would clarify that this stage there is no such transaction which has been finalized and the company has not entered into any binding definite agreement,” the company said.
CT Renganathan, MD, RPG Life Sciences, said the company‘s long-term strategy is to focus on the formulation business and going forward they would like to see 90 percent of business coming from formulation.
Biocon plans to list its research arm Syngene and on Wednesday filed prospectus with the market regulator Sebi. It aims to raise around Rs 600 crore.