India's Serum Institute to double investment in Biocon's unit | Adar Poonawalla- Watch Video

On Tuesday, the Serum Institute of Life Sciences said that it will increase its existing $150 million investment in Biocon Biologics. It already invested $150 million in the company in November 2022, making this its second investment.

The new agreement will grant Biocon Biologics access to 100 million doses of vaccines each year. Additionally, Serum will obtain the distribution rights to its vaccination line, expanding Biocon Biologics' product line for international markets.A division of Serum Institute of India, the biggest manufacturer of vaccines in the nation, is Serum Institute of Life Sciences. A division of the Kiran Mazumdar-Shaw-run Biocon is Biocon Biologics.

The initial transaction between Biocon Biologics and Serum Institute of Life Sciences, which had been announced in September 2021, has been withdrawn, and a new one has been announced in its place.