It was worth mentioning that it had signed a definitive agreement to acquire Bharat Serums & Vaccines, backed by Advent International, for an enterprise value of about Rs 13,630 cr. This the company disclosed in its exchange filing today.
“Mankind Pharma Limited completes the definitive agreement of acquisition of 100% stake of Bharat Serums and Vaccines Limited; a company with several decades of successful presence in the niche women’s health and critical care segment,” Mankind Pharma said in a press conference. “With this acquisition, Mankind Pharma will become an undisputed leader in women’s health and fertility treatment solutions. It will also get access to a host of high-entry-barrier products in critical care with the establishment of complex R&D technology platforms,” he added.
The company said another consortium—a private equity firm from Sweden, EQT, and Abu Dhabi Investment Authority—had been an acquisition bidder for BSV, with a source suggesting a valuation of as high as $2 billion.
The acquisition of Bharat Serums & Vaccines shall undoubtedly provide further impetus to the domestic operations of Mankind Pharma by way of expanding the formulation product portfolio across acute and therapeutic areas. Since 1971, its inception year, Bharat Serums & Vaccines has been engaged in research, development, and manufacture to market biological, biotech, and pharmaceutical formulations.
