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Biocon to acquire AxiCorp, the German firm
April 23, 2008: Biocon is set to acquire a majority stake of 70 per cent in AxiCorp of Germany for a consideration of €30 million (approx Rs.177.75 crore).
This will enable Biocon in the marketing and distribution of a range of pharmaceuticals, including generics, biosimilars, biologicals and innovative pharmaceuticals, in Germany and Europe. AxiCorp has a market share of 7 per cent in the range of products it manufactures in the European pharma market.
Source: The Hindu