Biocon subsidiary acquires research facility from Pfizer Healthcare
Biotechnology major Biocon on Tuesday said its subsidiary has acquired a Chennai-based biological research facility from Pfizer Healthcare for an undisclosed amount. Biocon Biologics has acquired research and development (R&D) capital assets of a 60,000-square feet research facility at Ticel Bio Park in Chennai, Biocon said in a statement.
"The high-end integrated R&D facility in Chennai will enable Biocon Biologics to expand its R&D capability and accelerate its journey towards meeting its strategic long-term goal of addressing the needs of millions of patients worldwide," Biocon Biologics CEO Christiane Hamacher said.
This investment will allow the company to fast-forward development of its biosimilars from lab to pilot scale, he added.
The facility will house an early stage research and innovation centre, including a pilot scale R&D unit equipped with cell line development, drug product formulation laboratories and analytical R&D laboratories.