-By ArdorComm News Network
October 3, 2024
In a significant development for the Indian pharmaceutical industry, the Competition Commission of India (CCI) has officially approved Mankind Pharma Ltd’s acquisition of Bharat Serums and Vaccines Limited (BSV). This acquisition, valued at Rs 13,630 crore, marks a major strategic move for Mankind Pharma, the fourth-largest pharmaceutical company in India by market share.
The proposed transaction involves the complete acquisition of 100% shareholding in BSV, a company well-known for its focus on women’s health, critical care, and fertility treatments. Mankind Pharma had announced the deal earlier in July 2024, acquiring BSV from Advent International, one of the world’s largest private equity investors.
The acquisition is expected to strengthen Mankind Pharma’s position in the women’s health and fertility drug market, giving it access to complex R&D platforms and high-entry barrier products in critical care. The definitive agreement reached between the two companies positions Mankind Pharma to further expand its presence in the healthcare sector, offering a wide range of pharmaceutical formulations and healthcare products.
Mankind Pharma is engaged in the development, manufacturing, and marketing of pharmaceutical products in both acute and chronic therapeutic areas, including consumer healthcare products. Meanwhile, BSV specializes in biotech, biological formulations, and emergency medicines, with a focus on women’s health and in-vitro fertilization (IVF).
Shares of Mankind Pharma saw a slight dip following the announcement, closing at Rs 2576.75 per share on the BSE, reflecting a 2.19% decline.
This acquisition reinforces Mankind Pharma’s commitment to growth and innovation, aligning with its goal of expanding its product portfolio in the Indian healthcare landscape.
Source: The Hindu