Indian biopharmaceutical company Biocon said on Saturday it would fully integrate its biosimilar unit Biocon Biologics as a wholly owned subsidiary. Biocon said in a statement it will acquire the remaining stakes in Biocon Biologics from Serum Institute Life Sciences, Tata Capital Growth Fund II and Activ Pine LLP through a share swap of 70.28 Biocon shares for every 100 Biocon Biologics shares, at a price of 405.78 Indian rupees ($4.51) per Biocon share. The deal values Biocon Biologics at $5.5 billion. Biocon Biologics Chief Executive Shreehas Tambe will become CEO and managing director of the combined entity post-integration, and Kedar Upadhye will be the chief financial officer.