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Biocon shares jump 6% as Mylan likely exits drugmaker after Rs 3,481 crore stake sale
Biocon shares experienced a significant jump of over 6% on Tuesday. Viatris-owned Mylan intends to sell a substantial stake, exiting the Indian drugmaker. This stake sale represents 5.64% of Biocon's outstanding shares. The offer's floor price was set at a discount to the previous closing price. Block deals totaling nearly nine crore shares occurred in early trading hours.
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thehindubusinessline.com
Biocon to see block deals, as Viatris plans to exit
Viatris plans to sell a 5.64% stake in Biocon at a 7.9% discount, marking a complete exit.
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economictimes.indiatimes.com
Biocon shares jump 6% as Mylan likely exits drugmaker after Rs 3,481 crore stake sale
Biocon shares experienced a significant jump of over 6% on Tuesday. Viatris-owned Mylan intends to sell a substantial stake, exiting the Indian drugmaker. This stake sale…
