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Biocon rallies after reports of Mylan's exit

(14-Jul-26   10:36)

Trading volumes surged significantly during the session. On the BSE, 4.72 crore shares changed hands compared with the three-month average of 2.49 lakh shares. On the NSE, 2.17 crore shares were traded, well above the three-month average of 41.40 lakh shares.

According to media reports, U.S.-based Viatris-owned Mylan was looking to sell its entire 5.6% stake in the biotechnology company through block deals worth around Rs 3,481 crore. The transaction would mark Mylan's complete exit from Biocon after a 17-year partnership. The block deal was reportedly launched at a floor price of Rs 378.50 per share, a discount of 7.9% to Biocon's Monday closing price on the NSE.

Mylan partnered with Biocon in 2009 to develop and commercialise biosimilars, later expanding the alliance to generic insulin analogues. It became a Biocon shareholder in January 2026 after Biocon issued shares as part of the acquisition of Viatris' stake in Biocon Biologics. The latest block deal would bring Mylan's association with Biocon to an end.

As on June 2026, promoters held 44.67% stake in Biocon. Mylan Inc. held 5.64% in the company.

Biocon is a global biopharma company dedicated to improving affordable access to therapies for chronic conditions such as diabetes, cancer, and autoimmune diseases.

On a consolidated basis, the company's net profit declined 63.4% year-on-year to Rs 126 crore in Q4 FY26 from Rs 344 crore in Q4 FY25. Revenue from operations increased 2.26% YoY to Rs 4,517 crore during the quarter.

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