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Tag: Biocon Biologics

  • Biocon raises Rs 4,500 crore via QIP, its first equity fundraise since 2004 IPO

    Biocon raises Rs 4,500 crore via QIP, its first equity fundraise since 2004 IPO

    MUMBAI: If the stock market had a hall of fame for patience, Biocon would deserve a shiny plaque. After two decades since its IPO debut in 2004, the Bengaluru-based biopharma giant returned to the equity markets, raising Rs 4,500 crore through a qualified institutions placement (QIP) that closed on 19 June 2025.

    The fundraise saw 13,63,63,635 equity shares priced at Rs 330 each (face value Rs 5, including a premium of Rs 325), and attracted a swarm of top-tier investors. The final orderbook featured heavyweights like SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Life Insurance, Nippon India Mutual Fund, Mirae Asset, Aditya Birla Mutual Fund, Franklin Templeton, SBI General Insurance, Norway’s Government Pension Fund Global, and Blackrock.

    “The strong response to our QIP reflects deep investor conviction in Biocon’s differentiated strategy and consistent execution”, said MD & CEO Siddharth Mittal. “This capital raise further strengthens our balance sheet, enabling us to invest in innovation, expand global access to lifesaving biopharmaceuticals, and advance our purpose of delivering affordable healthcare solutions”.

    Biocon plans to channel the proceeds towards multiple priorities: acquiring outstanding optionally convertible debentures issued by Biocon Biologics Ltd to Goldman Sachs’ India AIFs, repaying and prepaying select financial instruments and borrowings, and covering other corporate obligations.

    This marks Biocon’s first equity fundraise in 21 years, and it didn’t disappoint. Backed by a diverse mix of domestic mutual funds, insurance firms and foreign institutional investors, the transaction not only widened the company’s investor base but also reinforced trust in its long-term business vision.

    With shareholder approval secured via postal ballot on 4 June 2025, the QIP positions Biocon for its next growth sprint. Post-issue, the promoter and promoter group’s shareholding stands at 54.45 per cent.

    Kotak Mahindra Capital, BofA Securities India and Goldman Sachs India served as book running lead managers. Legal counsel included JSA Advocates & Solicitors for Biocon, and Cyril Amarchand Mangaldas and Linklaters Singapore for the lead managers.

  • Biocon launches Ustekinumab biosimilar Yesintek in US market

    Biocon launches Ustekinumab biosimilar Yesintek in US market

    MUMBAI:  Biocon Biologics Ltd has announced the US launch of Yesintek  (ustekinumab-kfce), one of the first biosimilars to Janssen’s Stelara® to enter the American market.

    The biosimilar, approved by the US Food and Drug Administration in December 2024, is indicated for the treatment of Crohn’s disease, ulcerative colitis, plaque psoriasis and psoriatic arthritis. Yesintek will be available in all formulations currently offered by the reference product.

    Biocon Biologics chief executive officer & managing director Shreehas Tambe called the launch “a significant step in our commitment to improving the lives of patients with inflammatory conditions” and noted it represents the company’s first US product launch since becoming a fully integrated global biosimilars organisation.

    The monoclonal antibody disrupts IL-12 and IL-23 mediated signalling associated with immune-mediated diseases. Clinical studies demonstrated Yesintek has similar pharmacokinetic, safety, efficacy and immunogenicity profiles compared with Stelara®.

    Crohn’s & Colitis Foundation chief education, support and advocacy officer  Laura Wingate  described the launch as “a meaningful advancement for eligible chronic disease patients, who now have more treatment options available.”

    Biocon confirmed Yesintek will have commercial payer coverage at launch alongside a patient assistance programme that includes benefits verification and copay support, with eligible patients potentially paying as little as $0.

    Josh Salsi, head of North America at Biocon Biologics Inc, emphasised that healthcare providers switching to Yesintek can expect “a seamless treatment experience covering the same indications and dosing options.”