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Tuesday 15 April 2008

Biocon Limited

Biocon Limited has informed the Exchange regarding clarification to the article that has appeared on the Cover Page of 'Mint' on April 14, 2008 with the headline 'Biocon to buy US firm for $400 mn', that: "Biocon Limited would like to clarify that this article is speculative and deny the Headline and the related information contained in the article. While it is true that the company had earlier indicated an intent to acquire marketing companies abroad, no acquisition target has been identified and the information contained in the article is unsubstantiated. There has been no comment form any Biocon spokesperson, as is clearly mentioned in the article: 'A Biocon spokesperson declined to comment as the firm is in the silent period ahead of the announcement of its quarterly results in keeping with the guidelines of stock market regulator Securities and Exchange Board of India (SEBI)'. All announcements by the company will be made as per SEBI guidelines, with prior intimation to the Stock Exchanges".

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