Indian Biotechnology major, Biocon announced that it has reached agreement to acquire a 70% stake in German pharmaceutical company, AxiCorp GmbH for a consideration of €30 million ($43.7 million).
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 were the financial advisors to Biocon on this transaction.
AxiCorp is a specialized 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 to the radically altered way the German pharmaceutical market now functions.
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