New Delhi, Oct 23
Mankind Pharma on Wednesday said it has completed the acquisition of Bharat Serums and Vaccines Limited (BSV) for Rs 13,768 crore.
The acquisition will position Mankind Pharma 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 segment with established complex R&D tech platforms, it said in a statement.
Their established specialty R&D tech platforms with complex portfolio perfectly aligns with our vision to expand into high entry barrier portfolio. Today, we warmly welcome BSV's 2,500+ members to our Mankind family adding a new chapter to our exciting journey and setting the stage for accelerated growth," said Rajeev Juneja, Vice-chairman and Managing Director, Mankind Pharma.
BSV has a niche portfolio offering in women's health. Its products like Thymogam, Octaplex, ASVS and others have already established market leadership.
"Together, we will now be able to ensure wider access of our specialised and indigenously developed complex treatments to millions of patients in India and across the globe," said Sanjiv Navangul, MD and CEO, BSV.
Mankind Pharma and its wholly-owned subsidiary (WOS) acquired 100 per cent stake in BSV, with the transaction funded through a combination of internal accruals and external debt.
The EBITDA margin-accretive acquisition aligns with Mankind's goal of maintaining a net debt to EBITDA ratio below 2 times by FY26, reinforcing its commitment to sustainable growth and financial discipline, said the company.
The acquisition has the potential to optimise and build on the synergies in commercial operations, distribution, manufacturing and supply chain, etc.
Mankind Pharma has 30 facilities in India, manufacturing a wide range of health products. It has a track record of product innovation through 6 dedicated R&D facilities backed by more than 660 scientists.