CCI Approves Mankind Pharma’s INR 13,360-Crore Acquisition of Bharat Serums and Vaccines

Nitin Konde

Oct 4, 2024 — 2 min read

CCI Approves Mankind Pharma’s INR 13,360-Crore Acquisition of Bharat Serums and Vaccines

The Competition Commission of India (CCI) confirmed on October 1 that Mankind Pharma may purchase Bharat Serums and Vaccines for INR 13,630 crore.

In a post on X, the regulatory body stated, "Commission approves acquisition of Bharat Serums and Vaccines Limited by Mankind Pharma Ltd." In July, Mankind Pharma declared that it would pay about INR 13,630 crore to private equity firm Advent International to fully purchase Bharat Serums and Vaccines.

Opting for a Definitive Agreement for the Acquisition

For an enterprise value of about INR 13,630 crore, Mankind Pharma has finalised an agreement to purchase a 100% share in Bharat Serums and Vaccines. Mankind Pharma announced on 30 September that it would issue non-convertible debentures and commercial papers to raise up to INR 10,000 crore. The regulator, which monitors unethical corporate practices and fosters fair competition in the market, must approve deals that exceed a specific level.

Mankind Pharma Vice Chairman and MD Rajeev Juneja stated in June of this year that the acquisition of BSV marks a significant turning point in Mankind's history and positions the company as the industry leader in the Indian women's health and fertility sector. One of the biggest pharmaceutical firms in India, Mankind Pharma, is involved in the development, production, and distribution of a wide variety of pharmaceutical finished dosage formulations.

About Mankind Pharma

In addition to producing and marketing a wide variety of pharmaceutical finished dosage formulations (FDFs) in both acute and chronic therapeutic areas, Mankind is a publicly traded company that also produces consumer healthcare products like condoms, emergency contraceptives, pregnancy tests, vitamins, minerals, and nutrients, antacids, and anti-acne preparations. Mankind is also involved in the production and distribution of active pharmaceutical ingredients (APIs), pharmaceutical intermediaries, and pharmaceutical product packaging through its subsidiaries.

About Mankind BSV

BSV and its subsidiaries work in the following areas: (a) ayurvedic medicines; (b) biotech and biological formulations and/or API; (c) food and health supplements; (d) medical devices; and (e) research, development, licensing, manufacturing, importing, exporting, marketing, and distribution of these products. In each case, these products are in the therapeutic areas such as gynaecology, in vitro fertilisation, critical care, and/or emergency medicines for human use. BSV's operations in India, including those of its fully owned Indian subsidiary BSV Pharma Private Limited, which is currently undergoing a merger with BSV, are restricted to the development, production, and marketing of a variety of biological, biotech, and pharmaceutical products in the therapeutic domains of emergency medicine, critical care, women's health, and IUI-IVF.