Mankind Pharma on Wednesday said it has completed the transaction to acquire Bharat Serums and Vaccines Ltd, for a consideration of Rs 13,768 crore.
This strategic move marks a significant leap for the company, positioning it 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, the drug maker said in a statement.
BSV, 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.
"Today, we warmly welcome BSV's 2,500 plus members to Mankind family adding a new chapter to our exciting journey and setting the stage for accelerated growth," Mankind Pharma Vice-chairman and Managing Director Rajeev Juneja stated.
Sanjiv Navangul, MD & CEO, BSV, said that being a part of the Mankind Pharma family makes BSV bigger, stronger and better.
"Together, we will now be able to ensure wider access of our specialised 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," he added.
In July this year, Mankind had announced that it will acquire 100% stake in BSV.
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