Biocon shares rallied to a 52-week high after Mylan exited its entire 5.64% stake through a ₹3,481 crore block deal. The transaction boosted investor sentiment despite being a secondary sale, extending the stock's recent gains.
Shares of Biocon surged over 6% on Tuesday and extended gains to nearly 8%, tracking reports that Mylan, a part of global healthcare company Viatris, is likely exiting the Indian drugmaker through a stake sale worth up to ₹3,481 crore. The stock touched a 52-week high of ₹444 per share on the National Stock Exchange (NSE), marking its sharpest single-day rise in around 18 months.
At around 11:12 AM, Biocon shares were trading at ₹441.20 per share, up 7.36%. The stock had opened strong after reports indicated that Mylan sold its entire stake in Biocon through a block deal. The shares later traded at ₹436.15 apiece, gaining more than 6% during the session. If the stock holds the gains until the market close, it would mark its best performance since January 2025.
Mylan Likely Sells 5.64% Stake in Biocon
According to a Reuters report, Mylan, which is owned by Viatris, planned to sell up to 9.2 crore shares of Biocon, representing around 5.64% of the company’s outstanding equity. The floor price for the offer was fixed at ₹378.50 per share, nearly 8% lower than Biocon’s previous closing price of ₹410.95.
Citigroup Global Markets India and Jefferies India acted as joint bookrunners and brokers for the transaction. The deal is a secondary sale, meaning the shares were sold by an existing investor and Biocon will not receive any proceeds from the transaction.
During early trading hours, around 4.4 crore shares, representing 2.7% equity, changed hands in a block deal, followed by another transaction involving 4.6 crore shares. The total volume traded through block deals was close to 9 crore shares, almost matching the quantity expected to be sold by Mylan. However, the seller involved in the morning block deals has not yet been confirmed.
Biocon Shareholding Pattern
As of the end of FY26, Mylan held a 5.64% stake in Biocon. Promoter Kiran Mazumdar-Shaw held around 30% stake, while Glentec International owned nearly 15% stake.
Institutional investors also had a significant holding in the company. Around 39 mutual funds collectively held more than 15% stake, while insurance companies owned over 6% stake. Nearly 3.74 lakh retail shareholders held around 6% equity in Biocon as of March 31, 2026.
Biocon Stock Performance
Following Tuesday’s rally, Biocon’s market capitalisation stood at ₹71,644.12 crore as of July 14, 2026. The stock has gained around 7% in the past week and 4% over the last one month. On a year-to-date basis, Biocon shares have delivered returns of more than 12%.
Over the longer term, the stock has generated 14% returns in one year, 66% in three years and 9% in five years. The shares had touched a 52-week low of ₹331 per share on August 11, 2025.
Recent Business Update and Q4 Results
In a regulatory filing dated June 24, Biocon announced that its long-term partner Duopharma Biotech Berhad, through its subsidiary Duopharma (M) Sendirian Berhad, secured multiple insulin supply contracts from Malaysia’s Ministry of Health.
Under the agreements, Biocon Sdn. Bhd., Malaysia, will supply short-acting recombinant human insulin, insulin glargine and insulin aspart. The contracts include a three-year agreement worth approximately MYR 155.27 million for human insulin, along with two-year agreements worth MYR 18 million for insulin glargine and MYR 52.5 million for insulin aspart.
Meanwhile, Biocon reported a 57% decline in consolidated net profit to ₹199 crore in Q4 FY26, compared with ₹459 crore in the same quarter last year. The decline was impacted by an exceptional expense of ₹80.4 crore, including costs related to the new labour code. Revenue from operations increased marginally to ₹4,516.6 crore from ₹4,417 crore in the year-ago quarter.
