Mankind Pharma To Acquire Bharat Serums And Vaccines For Rs 13,630 Crore

Mankind Pharma Ltd. will acquire biopharma firm Bharat Serums and Vaccines for Rs 13,630 crore, as it aims to strengthen its position in the women's health and fertility market segment.

The company will buy Bharat Serums and Vaccines Ltd. from the private equity firm Advent International, with the transaction expected to close in three to four months.

Mumbai-based Bharat Serums offers products focusing on women's fertility and post-pregnancy. Its revenue grew 20% year-on-year to Rs 1,723 crore in the year-ended March, while its adjusted Ebitda margin was 28%.

Shares of Mankind Pharma closed 1.79% higher at Rs 2,142 apiece, as compared with a 0.03% decline in the benchmark NSE Nifty 50.