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Biocon acquires Indian research facility from Pfizer

Biocon Ltd. has acquired a 60,000 square feet research facility from Pfizer Inc.'s unit Pfizer Healthcare India Pvt. Ltd.

The facility, which is at TICEL Bio Park in Chennai, India, has an early-stage research and innovation center, an R&D unit, drug substance process development equipment, and formulation and analytical laboratories.

The Karnataka, India-based biotechnology company expects the facility to be operational in a few months. The research facility will employ over 250 scientists, according to Biocon's Sept. 24 press release.

Biocon CEO Christiane Hamacher said the investment will fast-forward development of the company's biosimilars from lab to pilot scale.

Biocon did not disclose financial details of the transaction.