Biocon - Update

With reference to the news item appearing in a leading financial daily titled "Biocon to buy US firm for $400 mn", Biocon Ltd has clarified to BSE as under : "Boicon Ltd 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 from 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 Exchange."