The Board of Directors of Biocon Biologics Limited (BBL), a subsidiary of Biocon Limited, on September 16 approved the merger of Covidshield Technologies Private Limited (CTLP) – a wholly owned subsidiary of Serum Institute Life Sciences Private Limited (SILS) – into BBL.
Under this alliance, the BBL will be able to acquire 100 million doses of annual vaccines and trade rights to the SILS vaccine portfolio of global markets, the BBL said in a regulatory filing.
Also, SILS received about 15 percent of the stock in the BBL with a backlog of about $ 4.9 billion.
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