Mylan has exited Biocon after selling its entire stake in the Bengaluru-based biotechnology company, marking the end of a long association between the two firms. The transaction involved Mylan’s 5.64% holding in Biocon and was completed through a block deal worth around ₹3,679 crore.
The stake sale attracted strong interest from several major institutional investors, including mutual funds, foreign portfolio investors and global financial institutions. Among the buyers were names such as Morgan Stanley, ICICI Prudential Mutual Fund, Goldman Sachs and Citigroup, which participated in acquiring the shares from Mylan.
Following the deal, Biocon’s stock gained investor attention, with shares rising nearly 6% as markets reacted to the ownership change. Analysts said the transaction improved liquidity in the stock and brought in a wider group of institutional shareholders.
Mylan, a global pharmaceutical company, had been associated with Biocon for several years, particularly through its partnership in biosimilars. The collaboration helped Biocon expand its presence in global markets, especially in the areas of insulin, oncology and other complex biologic medicines.
The stake sale comes as Biocon continues to focus on expanding its global biosimilars business and strengthening its position in regulated markets. The company has been investing in research, manufacturing capabilities and international partnerships to grow its presence in the global pharmaceutical sector.
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