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With reference to the news item appearing in a leading financial daily titled “Biocon to hive off R&D into new co”, Biocon Ltd has clarified to BSE that with a view to achieve greater focus on its research programmers and as part of its normal operational activities, is proposing to set up a new R&D entity for discovery and innovative drug development initiatives. The creation of the new entity is under way and further modalities are being worked out.

Further, as reported in the said article, the proposal of setting up of a Greenfield formulations facility is part of the future expansion plans of the Company. The Company is yet to firm up its investment plans in terms of size and the time period for the said project.

With reference to the news item appearing in a leading financial daily titled “Biocon to buy US firm for $400 mn”, Biocon Ltd has clarified to BSE as under :

“Boicon Ltd would like to clarify that this article is speculative and deny the Headline and the related information contained in the article. While it is true that the Company had earlier indicated an intent to acquire marketing Companies abroad, no acquisition target has been identified and the information contained in the article is unsubstantiated.

There has been no comment from any Biocon spokesperson, as is clearly mentioned in the article: ‘A Biocon spokesperson declined to comment as the firm is in the silent period ahead of the announcement of its quarterly results in keeping with the guidelines of stock market regulator Securities and Exchange Board of India (SEBI)’.

All announcements by the Company will be made as per SEBI guidelines, with prior intimation to the Stock Exchange.”