Biocon shares rise 1% after billionaire Kiran Mazumdar-Shaw names niece as successor

The shares of Biocon jumped more than 1% on Tuesday after the company’s billionaire founder and chairperson Kiran Mazumdar-Shaw in an interview named her niece Claire Mazumdar as her successor.

The 73-year-old Mazumdar-Shaw, who founded Biocon over four decades ago and has no children, said during her interview with Fortune that she sees 37-year-old Claire as the right person to lead the next phase of the company’s growth, which will be driven by advanced biotechnology and artificial intelligence.

"I am the sole owner of Biocon, and I need to make sure that I put it in good hands…I have seen my niece Claire as my successor, because I think she has proved to me that she can run a company," Mazumdar-Shaw told Fortune India.

Biocon leadership transition to be gradual: Mazumdar-Shaw

In a post on X, the Biocon founder highlighted that the transition will be gradual and she is “not planning to hang up” her boots for a while. “Claire will transition into my role at the right time so not planning to hang up my boots just yet!!” she wrote.


Claire Mazumdar currently serves as the founder and CEO of Bicara Therapeutics, a Nasdaq-listed company incubated by Biocon. She holds degrees from MIT and Stanford, including a PhD in cancer biology, and previously worked with Third Rock Ventures and Rheos Medicines. Bicara was listed in 2024 and has a market capitalisation of over $1.6 billion.

Kiran Mazumdar-Shaw founded Biocon in 1978. She currently serves as the executive chairperson of Biocon as well as Syngene. Additionally, she is a board member of Narayana Hrudayalaya, Trent and other companies.

Biocon share price

Biocon shares bucked the overall market weakness to rise to Rs 365.70 apiece on Tuesday. The shares of the company have gained over 3% in one month, but declined more than 6% in 2026 so far. The stock gained 8% in one year.

In the longer term, the shares of the company gained 50% in three years, but delivered 4% negative return over five years. The company has a market capitalisation of more than Rs 59,000 crore.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)