Serum Institute, an Indian biotechnology and biopharmaceuticals company, agreed to acquire 15% stake in Biocon Biologics, an innovation led fully integrated biopharmaceutical company that developes affordable biosimilars, novel biologics & complex APIs, for $734m. “This alliance will complement the strengths and resources of the two leading players in vaccines and biologics. Our shared vision of building large scale businesses having global impact makes it a unique and synergistic value creation opportunity," Kiran Mazumdar-Shaw, Biocon & Biocon Biologics Executive Chairperson.