On July 25, Mankind Pharma announced its decision to fully acquire Bharat Serums and Vaccines (BSV) from Advent International for an enterprise value of approximately Rs 13,630 crore. This strategic move is expected to significantly enhance Mankind Pharma’s growth prospects, according to Rajeev Juneja, Vice-Chairman and Managing Director of Mankind Pharma.
Juneja emphasized that the acquisition is not merely a revenue boost but a strategic effort to add substantial value and address high-entry barrier segments. “This acquisition is aimed at driving future growth and bolstering our position in the super-specialty business sector,” he said during an analyst call.
Mankind Pharma’s acquisition aligns with its strategy of investing in high-barrier businesses. Juneja highlighted that the buyout would complement Mankind’s existing drug portfolio and enhance its reach in under-penetrated, rapidly growing markets, particularly in women’s health and fertility. He noted, “The women’s health and fertility segments hold immense potential, driven by trends like lifestyle changes, delayed parenthood, and rising chronic conditions.”
BSV, which has developed a range of recombinant and niche biologic products, boasts a robust portfolio in women’s health, fertility, and critical care. Some of its brands are leaders in their therapy areas.
Mankind Pharma plans to finance the acquisition through a mix of internal accruals, equity, and debt, with around Rs 4,000 crore coming from internal resources and the remainder through debt financing.
The acquisition is set to strengthen Mankind Pharma’s market position and expand its capabilities in key therapeutic areas, reinforcing its strategic vision of growth and market leadership.
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