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  3. Mankind Pharma Completes Acquisition Of Bsv To Strengthen Its Leadership In Womens Health
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  • 25 Oct 2024
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  • News Article

Mankind Pharma Completes Acquisition of BSV to Strengthen Its Leadership in Women’s Health

Overview

Mankind Pharma has completed the transaction to acquire 100% stake in Bharat Serums and Vaccines (BSV), for a purchase consideration of Rs 13,768 crore. This strategic move marks a significant leap for said Mankind as it positions itself 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. 

About Bharat Serums and Vaccines

BSV, with over five decades of leadership in biopharmaceuticals, 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, critical care and immunoglobulins, with a few of its marque brands enjoying a strong leadership position.

Acquisition by Mankind

  • Mankind and its wholly owned subsidiary (WOS) has successfully acquired 100% stake in BSV, with the transaction funded through a combination of internal accruals and external debt, arranged through a combination of non-convertible debentures and commercial papers. 
  • The company said it may consider to retire, a portion of the debt through a potential equity raise, which is already approved by the shareholders. 
  • This EBITDA margin-accretive acquisition aligns with Mankind’s goal of maintaining a net debt to EBITDA ratio below 2x by FY26, reinforcing its commitment to sustainable growth and financial discipline.

Words from the MS: Mankind Pharma

Rajeev Juneja, vice-chairman and managing director, Mankind Pharma, said,  “BSV’s acquisition marks a pivotal moment. 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."

Words from the CEO: Mankind Pharma

Sheetal Arora, chief executive officer and Whole-time Director, Mankind Pharma noted, “BSV’s women’s health & fertility segment has massive opportunity along with strong growth visibility globally, led by structural tailwinds. We believe BSV will aid Mankind in delivering strong revenue growth and significant improvements in EBITDA margins. Together, we will unlock new opportunities, strengthen our product portfolio, and maximize full potential of our new growth vertical.

Words from the CEO: BSV

Sanjiv Navangul, MD & CEO, BSV, stated, “Together, we will now be able to ensure wider access of our specialized and indigenously developed complex treatments to millions of patients in India and across the globe.  We will together unlock new possibilities, explore opportunities and maximize potential that will help achieve our priorities and business goals.”

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