BSV’s 2500+ employees to join Mankind Pharma
Ending months of speculation, Mankind Pharma announced a definitive agreement to acquire a 100 per cent stake in Bharat Serums and Vaccines Limited (BSV) from PE investor Advent International, for an enterprise value of approx. Rs 13,630 crores, subject to closing related adjustments.
The move will position Mankind Pharma as a market leader in India’s 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.
BSV’s Women’s Health portfolio, spanning fertility to post-pregnancy, in both India and International markets, complements Mankind Pharma’s existing portfolio across acute and chronic therapeutic areas including anti-infectives, cardiovascular, gastrointestinal, antidiabetic, neuro/CNS, VMN and respiratory.
In the consumer healthcare business, the company operates in the condoms, pregnancy detection, emergency contraceptives, antacid powders, vitamin and mineral supplements and anti-acne preparations categories, among others, with several category-leading brands.
Commenting on the acquisition, Rajeev Juneja, Vice-chairman and Managing Director, Mankind Pharma welcomed BSV’s 2,500+ employees to the Mankind family.
Looking ahead, Sanjiv Navangul, CEO & Managing Director, BSV, expressed confidence that the acquisition would “add immense value to Mankind Pharma as we grow together, synergise our strengths and explore opportunities towards bringing healthcare closer to every home in India and across the world.”
Moelis & Company acted as exclusive financial advisor and AZB & Partners acted as legal counsel to Mankind Pharma. Advent and BSV were advised by Jefferies LLC and JP Morgan as financial advisors and Khaitan & Co as legal counsel.
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