Drug maker Biocon has entered into an agreement with GE Equity
International Mauritius, a subsidiary of GE Capital Corporation, to
purchase the latter’s stake in Biocon research services subsidiary,
Syngene International for Rs.215.38 crore.
GE Capital has 7.69 per cent stake in Syngene of Biocon according to the information shared with the stock exchange.
It was in November 2012, that Biocon signed an agreement with GE Equity International Mauritius, a subsidiary of GE Capital Corporation, to make a primary equity investment of Rs.125 crore in Syngene. GE received a 7.69 per cent equity share in Syngene. The investment from GE Capital saw Syngene’s Post Money Equity Valuation to be Rs.1,625 crore.
Syngene has been a pioneer in the contract research in India and is also recognised as the largest in Asia. It is engaged in integrated drug discovery and development services with a focus on medicinal chemistry, biology, in vivo pharmacology and toxicology. It has a total scientific strength of 1,500 to support the research and development programmes of global pharma, biotech and nutrition companies.
GE Capital has 7.69 per cent stake in Syngene of Biocon according to the information shared with the stock exchange.
It was in November 2012, that Biocon signed an agreement with GE Equity International Mauritius, a subsidiary of GE Capital Corporation, to make a primary equity investment of Rs.125 crore in Syngene. GE received a 7.69 per cent equity share in Syngene. The investment from GE Capital saw Syngene’s Post Money Equity Valuation to be Rs.1,625 crore.
Syngene has been a pioneer in the contract research in India and is also recognised as the largest in Asia. It is engaged in integrated drug discovery and development services with a focus on medicinal chemistry, biology, in vivo pharmacology and toxicology. It has a total scientific strength of 1,500 to support the research and development programmes of global pharma, biotech and nutrition companies.
No comments:
Post a Comment