Biocon Sells Stake in Syngene: A Strategic Shift

Biocon Limited has sold a 2% stake in Syngene International, its research subsidiary, through a block deal at ₹825 per share, amounting to approximately ₹736 crore. This move reflects Biocon’s focus on optimizing its investment portfolio. The sale aligns with Biocon’s ongoing strategy to streamline its operations and fund other ventures. Meanwhile, Syngene continues to attract investor interest as a robust player in research and development services, with its stock price showing steady activity amidst the news of the deal. This development underlines strategic financial moves within the pharmaceutical and biotech sectors.