Biocon shares jump 6% as Mylan likely exits drugmaker after Rs 3,481 crore stake sale
- Posted on July 14, 2026
- By Business News Today
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- 1 min read
In brief
Biocon's stock surged over 6% following Viatris-owned Mylan's strategic decision to divest its 5.64% shareholding through a substantial block deal. The transaction, valued at approximately Rs 3,481 crore, marks Mylan's complete exit from the Indian pharmaceutical company. Nearly 90 million shares exchanged hands during early trading, signaling strong institutional interest in acquiring the stake at the discounted floor price.
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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.
