Biocon to buy 70% stake in AxiCorpBS Reporter / Mumbai February 11, 2008Bangalore-based drugmaker Biocon will acquire a 70% stake in German pharmaceutical company AxiCorp GmbH for a consideration of euro 30 million.According to a release issued by Biocon to the BSE today, this will enable the marketing and distribution of a range of pharmaceuticals including generics, biosimilars, biologics and innovative pharmaceutical products in Germany and Europe.Allegro Capital was the financial advisor to Biocon for the transaction, the release added.AxiCorp is a specialised marketing and distribution company established in 2002 by a group of industry experts to address the lucrative generics and parallel distribution market in Germany and Europe. AxiCorp is ISO-9001 certified with a differentiated distribution model that is aligned with the functions of the German pharmaceutical market.Kiran Mazumdar-Shaw, chairman and managing director, Biocon, said: "AxiCorp is a key strategic investment for Biocon as it will enable our European foray for biosimilars like recombinant human Insulin. Biocon is investing in AxiCorp