Mankind Pharma Completes 13,768 Crore BSV Acquisition

Mankind Pharma said the firm has completed the acquisition of Bharat Serums and Vaccines Limited (BSV) for Rs 13,768 crore. This acquisition will establish Mankind Pharma as a market leader in the Indian women's health and fertility drug market, along with entry to high entry-barrier products in the critical care segment with established complex R&D tech platforms, the company said in a statement.

Their established specialty R&D tech platforms with complex portfolios perfectly aligns with the vision of reaching out into the high entry barrier portfolio. "Today, we warmly welcome BSV's 2,500+ members into our Mankind family and add a new chapter to our exciting journey and set 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.

"We are now better positioned together to ensure wider access of our specialised and indigenously developed complex treatments to millions of patients across India and the world", said Sanjiv Navangul, MD and CEO, BSV.

Mankind Pharma, along with its wholly-owned subsidiary (WOS), acquired 100 percent stake in BSV. Funding had been through a combination of internal accruals and external debt.

"This acquisition is EBITDA margin-accretive and will support Mankind's aim to keep its net debt to EBITDA below 2 times by FY26, reiterating its track record of sustainable growth and financial discipline", added the company.

The acquisition is sure to enhance and expand on the synergies associated with commercial operations, distribution, manufacturing, and supply chains, etc.

Mankind Pharma has 30 facilities in India, which manufacture a vast number of health products. It has a history of innovation through products with 6 dedicated R&D facilities supported by over 660 scientists.