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Mazumdar-Shaw, India's richest self-made woman, founded India's largest listed biopharmaceutical firm by revenue, in 1978.
The firm has successfully forayed into the lucrative U.S. biosimilars market, catching the attention of investors.
The company has sold 3 billion doses of insulin to date and has Asia's largest insulin factory in Malaysia's Johor region.
Biocon is working with U.S. firm Adagio Therapeutics to develop an antibody therapy called ADG20 to prevent and treat the coronavirus and its variants.
In September 2021, vaccine billionaire Cyrus Poonawalla's Serum Institute of India agreed to acquire a 15% stake in Biocon Biologics, a Biocon subsidiary.