Biocon to transfer biosimilar business through ‘slump sale’

Biocon will transfer the biosimilar business of the company by way of slump sale as ‘going concern’ to Biocon Biologics India, a step-down subsidiary of the company, subject to consent of the shareholders. The proposal was approved by the board of the company.
 
Meanwhile, the stock, on Monday’s trade ended in the green, gaining 0.55% at Rs 328.80 per share on the BSE. The company has had a return on equity of 12.02% for the past three years. Its dividend payout was 12.05% over the past three years.
 
A biopharmaceutical company, Biocon focuses to reducing therapy costs of chronic diseases like autoimmune, diabetes, and cancer. As the latest update, its drug product facility for Trastuzumab and Pegfilgrastim was being re-inspected by the EMA Committee for Medicinal Products for Human Use (CHMP) last week.