The Competition Commission of India (CCI) has approved a deal involving Serum Institute Life Sciences, Covidshield Technologies and Biocon Biologics.
Under the terms of the agreement, Serum Institute Life Sciences (SILS) will receive about 15% of Biocon Biologics. Covidshield Technologies, a SILS subsidiary, will be merged with Biocon Biologics.
In a statement released on May 18, the Commission said it authorized "merger by absorption of Covidshield Technologies into Biocon Biologics in consideration for acquisition of approximately 15 per cent equity shareholding of Biocon Biologics by Serum Institute Life Sciences."
Covidshield Technologies undertakes the business of marketing, selling and distributing vaccines and other pharmaceutical products. Biocon Biologics develops and manufactures biosimilars and biologics products. The company offers treatment for chronic and acute diseases such as diabetes, oncology, autoimmune diseases and nephrology. Biocon Biologics also has research and development centres and manufacturing facilities. Vaccines will be a natural adjacency to the company's existing platform.
As a result of the deal, Biocon Biologics will get access to 100 million doses of vaccine per annum for 15 years, primarily from SILS’s vaccine manufacturing plant in Pune with commercialisation rights of the SILS vaccine portfolio, including COVID-19 vaccines in global markets.
According to Kiran Mazumdar-Shaw, Executive Chairperson of Biocon Biologics, besides COVID vaccines, the alliance will "develop antibodies targeting several infectious diseases like dengue and HIV."
"As part of the alliance, we are going to expand capacity and invest in R&D as the opportunities are plenty in infectious as well as non-communicable diseases”,