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.
The facility is expected to be operational in a few months post qualification and will house over 250 scientists.
This acquisition provides Biocon Biologics a significant time advantage in comparison to setting up a greenfield R&D project and will accelerate the global development of its biosimilars portfolio, the company said.
At present, the company has an R&D centre at Bengaluru.
Biocon Biologics has a product pipeline of 28 molecules, including 11 with Mylan, few with Sandoz and rest on its own.
Biocon shares were trading 0.64 per cent higher that their previous close at Rs 226.85 on the BSE.
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