Mankind Pharma has entered into a definitive agreement to acquire a 100 per cent stake in Bharat Serums and Vaccines (BSV) from Advent International. It is one of the world’s largest and most experienced private equity investors, for an enterprise value of Rs 13,630 crore, subject to closing related adjustments.
Mankind Pharma is one of the largest pharmaceutical companies in India, which focuses on the domestic market with its pan India presence. Mankind operates at the intersection of the Indian pharmaceutical formulations and consumer healthcare sectors with the aim of providing quality products at affordable prices.
Shares of Mankind Pharma will be in focus during the trading session on July 26, after the pharmaceuticals company announced to acquire Bharat Serums and Vaccines (BSV) from Advent International to expand its high entry barrier portfolio and gain leadership in women’s health.
This strategic move marks a leap for Mankind Pharma, positioning it as a market leader in the Indian women’s health and fertility drug market alongside access to other high entry barrier products in critical care with established complex R&D tech platforms, the company added.
Shares of Mankind Pharma settled at Rs 2143.90 on July 26, rising more than 1.81 per cent for the day. The total market capitalization of the company stood close to Rs 86,000 crore as the previous close. Shares of Mankind Pharma were listed on the bourses in May 2023. The company raised a total of Rs 4,326.36 crore via its initial public offering (IPO) as it sold its shares for Rs 1,080 apeice. The stock has nearly doubled value from its IPO price, rising more than 98 per cent.
BSV has developed recombinant and niche biologic products in-house, demonstrating its strong R&D capabilities and boasts of a robust branded product portfolio across women’s health, fertility and critical care, with a few of its marque brands enjoying a strong leadership position in their respective therapy areas with over five decades of leadership in biopharmaceuticals.
BSV’s acquisition represents a pivotal milestone in Mankind’s journey, establishing us as market leader in Indian women’s health & fertility segment, said Rajeev Juneja, Vice-chairman and Managing Director, Mankind Pharma.
In the realm of luxury timepieces, a select few watches command extraordinary prices that reflect…
The Cabinet Secretary is the highest-ranking civil servant in India, playing a key role in…
Wilhelm Conrad Röntgen, a German mechanical engineer and physicist, became the first person to win…
A series of pager explosions across Lebanon resulted in the deaths of at least nine…
India and the US have committed to deepening their bilateral cooperation across the energy value…
At the 4th RE-Invest Summit, hosted by the Ministry of New and Renewable Energy (MNRE)…