Viatris-owned Mylan plans to sell 5.64 per cent stake or 9.2 crore shares in the Bengaluru-based Biocon through block deals on Tuesday.
According to a term-sheet seen by businessline, the floor price for the transaction has been fixed at ₹378.50 a share, which is at a 7.9 per cent discount to the current market price of ₹410.95. At the floor price, the deal size would be around ₹3,480 crore. This will mark a complete exit from the company by Mylan.
In January 2026, Biocon had acquired Mylan’s stake in Biocon Biologics through a combination of a share swap and cash consideration. As part of the transaction, Mylan had received a preferential allotment of Biocon shares.
For FY26, Biocon posted a consolidated net profit of ₹368.8 crore, down from ₹1,429.4 crore in FY25. Consolidated revenue from operations in FY26 stood at ₹16,927 crore (₹15,261.7 crore in FY25). “Biocon closed FY26 on a strong note despite a complex geopolitical environment. We delivered margin expansion along with 13 per cent y-o-y growth in operating revenue, excluding the one-time impact of generic lenalidomide sales last year,” Biocon Ltd, Executive Chairperson, Kiran Mazumdar-Shaw, had then said.
Biocon gained 13.30 per cent year-to-date.
Published on July 13, 2026
