Mumbai, Feb. 14 -- Biocon Ltd is close to completing the integration of its subsidiary Biocon Biologics Ltd (BBL) with itself, after making progress last quarter on buying back the minority stake, Biocon Biologics' chief executive officer (CEO) Shreehas Tambe said on Friday.

The Bengaluru-based company on 14 January said it raised Rs.4,150 crore ($460 million) through a qualified institutional placement (QIP) of shares to buy out Mylan Inc's (Viatris) stake in the subsidiary. Days later, it announced it had completed the acquisition of the remaining equity shares of BBL from Mylan for a cash consideration of $200 million, raising its stake to over 98%.

Biocon's board on Thursday granted in-principle approval to acquire the remaining 2% ...