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Listen to this article in summarized format The offer size is pegged at Rs 638 crore, with the floor price set at Rs 385 per share. The floor price could offer a discount of up to 1.9% to Biocon’s current market price (CMP). The seller is subject to a 30-day lock-up period for any further sale of its stake. Biocon signs Pertuzumab partnership in Brazil Separately, Biocon earlier today announced the signing of a partnership agreement with Bahiafarma and Bionovis for Pertuzumab in Brazil. The partnership marks a milestone in advancing the production and commercialisation of the HER2-positive breast cancer therapy under Brazil’s Productive Development Partnership (PDP) programme. The consortium of Biocon, Bahiafarma and Bionovis received 100% allocation under Brazil's 10-year PDP programme for Pertuzumab. The PDP provides the consortium exclusive access to Brazil’s public healthcare market, which accounts for approximately 70% of the country’s demand for Pertuzumab. It also supports the long-term adoption of Biocon’s product within Brazil’s public oncology network. Under the Brazil PDP opportunity, Biocon will receive milestone payments and a share of revenues generated over a 10-year period. As part of the PDP framework, the product will undergo phased localisation in Brazil in the mid to long term. Shreehas Tambe, CEO & Managing Director, Biocon, said the partnership marks a significant milestone in the company’s journey in Brazil, enabling it to reach more patients living with HER2-positive breast cancer and address an important healthcare need at scale. Ceuci Nunes, CEO, Bahiafarma, said the partnership advances a strategic public health project and paves the way for the incorporation of a highly complex technology, contributing to Brazil’s capacity to produce essential medicines for its Unified Health System (SUS). Biocon Q1 Biocon reported a more than four-fold year-on-year increase in consolidated net profit for the June quarter on Wednesday, August 5, supported by growth in its biopharmaceutical business and lower finance costs, while its services business continued to face pressure. The biopharmaceutical company posted consolidated net profit of Rs 141 crore for the June quarter, compared with Rs 31.4 crore in the same period a year earlier. Revenue from operations rose 10% year-on-year to Rs 4,336 crore from Rs 3,942 crore. EBITDA grew 10.6% to Rs 847.2 crore from Rs 766.1 crore a year ago, while the EBITDA margin edged up to 19.54% from 19.43%. Gross EBITDA stood at Rs 902 crore, with a margin of 21%, helped by improved profitability in the Biopharma business. Biocon is a biopharmaceutical company driven by its purpose to provide affordable, life-changing medicines to patients worldwide. Headquartered in Bengaluru, India, Biocon addresses some of the world’s most pressing healthcare challenges across chronic and non-communicable diseases by offering both biosimilars and generics at scale across geographies. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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