Mankind Pharma to buy out Bharat Serum

MUMBAI: Gurugram-based Mankind Pharma, which is a leading player in the domestic OTC drug segment, has entered into a definitive agreement to acquire 100% stake that global investor Advent International holds in Bharat Serums and Vaccines (BSV) for an enterprise value of Rs 13,630 crore, the companies said in a joint statement late Thursday evening.

This strategic deal marks a major leap for Mankind, which went public with a Rs 4,326 crore IPO in April 2023, positioning it as a market leader in the domestic women’s health and fertility drug market alongside access to other high entry barrier products in critical care with established complex R&D tech platforms.

Mankind has beaten the Swedish private equity firm EQT and a consortium led by the Abu Dhabi Investment Authority to buy BSV. Earlier Mankind had bid for Apax Partners-backed Healthium Medtech, a medical device maker, but KKR won the auction process in the end.