Mankind Pharma to acquire 100% stake in biotech company Bharat Serums & Vaccines

The deal, valued at approximately Rs 13,630 crores, is expected to close within three to four months, subject to regulatory approvals.

Mankind Pharma has entered into a definitive agreement to acquire Bharat Serums & Vaccines (BSV), backed by Advent International for an enterprise value of approximately Rs 13,630 crores. The company announced this in an exchange filing.

"Mankind Pharma Limited has entered into a definitive agreement to acquire a 100% stake in Bharat Serums and Vaccines Limited (BSV) from Advent International (“Advent”), one of the world’s largest and most experienced private equity investors, for an enterprise value of approximately Rs 13,630 crores, subject to closing-related adjustments. This strategic move marks a significant leap for Mankind Pharma, positioning it as a market leader in the Indian women's health and fertility drug market, while also providing access to other high-entry-barrier products in critical care with established complex R&D tech platforms," the company added.

The company stated that Swedish private equity firm EQT and the Abu Dhabi Investment Authority (ADIA) consortium are also bidders in the acquisition process of BSV, with the deal estimated to be valued between $1.5 billion and $2 billion.

Acquiring Bharat Serums & Vaccines will enhance Mankind Pharma's domestic operations by expanding its product portfolio, which includes formulations across acute and therapeutic areas. Established in 1971, the Mumbai-based BSV develops, manufactures, and markets biological, biotech, and pharmaceutical formulations.