Biocon India Ltd, the Bangalore-based biotech major, plans to tap the capital market with an initial public offer (IPO) between June and December 2003, said Kiran Mazumdar-Shaw, the chairman and managing director of the company.
Kiran Mazumdar was here to participate in an international conference on drug discovery and healthcare in the knowledge economy. Shaw said the IPO size would be around Rs 150 crore and would be utilised to fund a new biologicals plant as well as R & D programmes.
Biocon, which currently manufactures statin range of bulk drugs (lovastatin, simvastatin and atorvastatin), immunosupressants and industrial enzymes, has lined up three products for the next year. Of these, Orlistat, an obesity drug, is slated for launch in January.
