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USFDA approved affordable biosimilars Bosaya and Aukelso approved by Biocon Biologics Ltd, offering treatment options for osteoporosis and cancer-related bone conditions.
The funds raised will go a long way towards helping the company repay the debt it had taken on for the acquisition of Viatris Inc's biosimilars portfolio for over $3 billion.
Serum Life Sciences would make an additional equity investment of $150 million through the conversion of the $150 million loan provided to Biocon Pharma Limited.
Under the alliance, BBL will have access to 100 million doses of vaccines annually for 15 years and commercialisation rights of the SILS vaccine portfolio for global markets.
