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Home » Biocon to Sell Stake in Biologics Unit to Serum Institute for Vaccine Access
Biocon to Sell Stake in Biologics Unit to Serum Institute for Vaccine Access
September 20, 2021
Biocon will sell a 15 percent stake in its biologics group to the Serum Institute of India in return for 100 million vaccine doses annually for 15 years, including COVID-19 vaccines.
The Serum Institute, which is the world’s largest vaccine producer, is manufacturing AstraZeneca’s adenovirus-based COVID-19 vaccine, Covishield, for distribution in India and in a large number of low- and middle-income countries.
Biocon’s biologics unit will also create a vaccine research and development division to support the pact. The deal also includes development of antibodies against Dengue fever and HIV, among others.
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