CCI Approves Mankind Pharma's Acquisition Of Bharat Serums And Vaccines For Rs 13,630 Crore
BSV is also recognized as a leader in women's healthcare, assisted reproductive treatments, and critical care.
Mankind Pharma's manufacturing facility in Himachal Pradesh. (Source: Company website)
The Competition Commission of India has approved Mankind Pharma's proposed acquisition of Bharat Serums and Vaccines for Rs 13,630 crore. Mankind Pharma, a publicly listed company, is involved in the development, manufacturing, and marketing of a wide range of pharmaceutical formulations.
The acquisition will see Mankind Pharma take a 100% stake in BSV, which specializes in research, development, manufacturing, and distribution of pharmaceutical formulations, active pharmaceutical ingredients, and health supplements. BSV is also recognized as a leader in women's healthcare, assisted reproductive treatments, and critical care.
This strategic move is expected to enhance Mankind Pharma's position in the Indian women's health and fertility drug market and provide access to high-barrier products in critical care, supported by established R&D capabilities.
The deal required CCI approval as it exceeds the threshold for significant mergers and acquisitions, ensuring compliance with regulations that promote fair competition and prevent unfair business practices.
In July, Mankind Pharma announced its plan to fully acquire Bharat Serums and Vaccines from private equity firm Advent International for approximately Rs 13,630 crore. The company has signed a definitive agreement to purchase a 100% stake in BSV at an enterprise value of around Rs 13,630 crore.
This strategic acquisition represents a significant advancement for Mankind Pharma, positioning it as a leader in the Indian women's health and fertility drug market while also providing access to other high-barrier products in critical care, backed by established complex R&D capabilities.
Such deals, exceeding a certain threshold, require regulatory approval to ensure compliance with rules that monitor unfair business practices and promote fair competition in the marketplace.
Earlier, Mankind Pharma has received board approval to raise up to Rs 10,000 crore through non-convertible debentures and commercial papers. The board will seek to raise Rs 5,000 crore through NCDs and another Rs 5,000 crore via commercial papers.
(With PTI Inputs)
