Abu Dhabi-based ADQ picks up minority stake in Biocon Biologics for $75 million

ADQ, a prominent Sovereign Fund of the Middle East, has picked up a minority stake of 1.8% in Biocon Biologics, the biosimilar subsidiary of Biocon for $75 million (nearly Rs 555 crore).

The transaction values Biocon Biologics at $4.17 billion, said the company in a press release.

After this transaction, Biocon will hold 89.89% stake in Biocon Biologics on a fully diluted basis.