Biocon to Sell Stake in Biologics Unit to Serum Institute for Vaccine Access

Biocon will sell a 15 percent stake in its biologics group to the Serum Institute of India in return for 100 million vaccine doses annually for 15 years, including COVID-19 vaccines.

The Serum Institute, which is the world’s largest vaccine producer, is manufacturing AstraZeneca’s adenovirus-based COVID-19 vaccine, Covishield, for distribution in India and in a large number of low- and middle-income countries.

Biocon’s biologics unit will also create a vaccine research and development division to support the pact. The deal also includes development of antibodies against Dengue fever and HIV, among others.