Days after Mankind Pharma inked a ₹13,630 crore deal to buy Bharat Serums and Vaccines (BSV), its top management said BSV would run as an independent business, reporting to the Mankind board.
Giving broad contours of the integration process, Juneja said, TTK Healthcare’s human pharma business – acquired by then Advent-backed BSV about two years ago – would be absorbed into Mankind’s consumer healthcare business. Mankind expects the BVS acquisition to bring in synergistic benefits of ₹50-100 crore in 12 -24 months, he added.
Mankind had said last week, it was acquiring 100 per cent equity in BSV, a move that strengthened its presence in women’s health and infertility market, besides giving it access to high-entry-barrier products and complex research platforms. In March 2022, Mankind had bought Panacea Biotec’s domestic formulations business for India and Nepal at ₹1,872 crore.
Mankind’s revenues for FY24, stood at ₹10,335 crore and BSV clocked ₹1,723 crore. Mankind’s net cash balance was ₹3,260 crore, as on March 31, 2024. And in May this year, its board had given it a “blanket approval” to raise ₹7,500 crore, with an eye on the then upcoming acquisition.
