Versuchen GOLD - Frei
Range of options to cut debt load, says Biocon
Mint Mumbai
|February 10, 2024
Co had borrowed to buy US firm for 3.3 bn; Net debt now at 1.1 billion
Biopharmaceutical firm Biocon Ltd will "remain focused" on reducing its debt taken on to buy the $3.3 billion generics portfolio of American drugmaker Viatris, a top executive said.
On 8 February, the company said it had made a prepayment of $200 million over the preceding quarter, which brought its group-level debt down to $1.1 billion.
Biocon's net debt rose to $1.9 billion in December 2022, as it sought funds to complete the mega-transaction for Viatris.
"The debt levels have been reduced to $1.1 billion at the group level and while the debt levels are comfortable now, we'd like to perhaps get to a level of three times the multiple of Ebitda (earnings before interest, taxes, depreciation, and amortization)," said Peter Bains, group CEO for Biocon Ltd in an interview with Mint.
Biocon's Ebitda for FY23 stood at 2,888 crore-three times that is 18,664 crore ($1.04 billion).
Diese Geschichte stammt aus der February 10, 2024-Ausgabe von Mint Mumbai.
Abonnieren Sie Magzter GOLD, um auf Tausende kuratierter Premium-Geschichten und über 9.000 Zeitschriften und Zeitungen zuzugreifen.
Sie sind bereits Abonnent? Anmelden
WEITERE GESCHICHTEN VON Mint Mumbai
Mint Mumbai
America should think before it slams its door on immigration
The benefits of it are subtle but compelling enough to keep it going
3 mins
October 09, 2025
Mint Mumbai
Fintechs must design for all, says RBI governor
increase transparency and awareness in consent management and data sharing under the account aggregator framework,\" he said.
1 mins
October 09, 2025
Mint Mumbai
Road builders sweat as highway tenders dry up
After a prolonged slowdown in orders, India's road construction giants are keeping their fingers crossed for a long-awaited revival.
2 mins
October 09, 2025
Mint Mumbai
Competitive exams in India: Are we testing the right parameters?
Their focus is on skills that often have nothing to do with requirements of the actual roles on offer
3 mins
October 09, 2025
Mint Mumbai
JSW tweaks auto top deck before EV, truck launch
Sajjan Jindal-led JSW Group has introduced a series of changes to the boards of at least two ofits auto companies and changed the holding company of its component business between August and September, as the conglomerate gears up to launch cars and trucks next financial year.
2 mins
October 09, 2025
Mint Mumbai
India pulls several anti-dumping levies on China, others
New Delhi has quietly allowed the expiry of anti-dumping duties on a range of goods from several countries including China, signalling a recalibration in its approach to trade protection.
2 mins
October 09, 2025
Mint Mumbai
Ombudsman rules, but are health insurers playing fair?
How to enforce ombudsman awards, challenge cancellations, ensure uninterrupted coverage
4 mins
October 09, 2025
Mint Mumbai
Design products accessible to all, RBI governor tells fintechs
Fintechs in India have a clear mandate from the head of the country's central bank: design products that are accessible, inclusive, and tailored for underserved populations.
2 mins
October 09, 2025
Mint Mumbai
Airtel's chief flags regulatory overreach in telecom sector
Telcos face disproportionate regulatory burden compared to other digital players, Vittal said
2 mins
October 09, 2025
Mint Mumbai
Advertisers push for transparency standards in ad sales
Some of the advertising industry's largest players have joined forces to propose new standards for transparency in the digital auctions that increasingly dominate ad sales.
4 mins
October 09, 2025
Listen
Translate
Change font size