Novozymes completes million-dollar acquisition of India-based Biocon
Dated: 8 October 2007
Danish company Novozymes A/S said it has completed the acquisition of the enzyme activities of Biocon Limited in Bangalore, India.
Biocon’s activities will be integrated into Novozymes’ existing Indian and global activities and included in Novozymes’ consolidated financial statements with effect from October 1, 2007, the company said in a statement
Novozymes signed the US$115 million agreement to acquire the enzyme activities of India-based Biocon Limited earlier in July, stating that the move will help strengthen its position in the attractive Indian enzyme market.
Novozymes entered the Indian enzyme market in 1987 and has gradually increased its activities and asset base in India. The company said it is establishing research and development facilities in Bangalore.
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