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Biocon to buy stake in research services arm of GE Capital for $35 mln


Mumbai (9th Sept, 2014): Biocon Ltd said on Tuesday it agreed to buy a 7.7 percent stake in its research services business from a unit of GE Capital for 2.15 billion rupees ($35.48 million).

Biocon said it would buy the stake in unit Syngene, which is involved in pharmaceutical contract research and manufacturing, from GE Equity International Mauritius.

Biocon had previously said it planned to take Syngene public, but has not given a timeline.


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