Latest News | CCI Clears Rs 13,630-cr Mankind Pharma-Bharat Serums Vaccines Deal
Get latest articles and stories on Latest News at LatestLY. The Competition Commission of India (CCI) on Tuesday approved the proposed acquisition of Bharat Serums and Vaccines by Mankind Pharma for Rs 13,630 crore.
New Delhi, Oct 1 (PTI) The Competition Commission of India (CCI) on Tuesday approved the proposed acquisition of Bharat Serums and Vaccines by Mankind Pharma for Rs 13,630 crore.
Listed firm Mankind Pharma is engaged in developing, manufacturing, and marketing a diverse range of pharmaceutical finished dosage formulations.
"Commission approves acquisition of Bharat Serums and Vaccines Limited by Mankid Pharma Ltd," the regulator said in a post on X.
Mankind, through its subsidiaries also, involved in the manufacturing and sale of active pharmaceutical ingredients (APIs), pharmaceutical intermediaries, and packaging products for pharmaceutical products.
Bharat Serums and Vaccines Ltd (BSV) is engaged in research, development, licensing, manufacturing, importing, exporting, marketing and distribution of pharmaceutical formulations/ FDFs, APIs, food and health supplements.
BSV is also a biopharmaceutical leader in women's healthcare, assisted reproductive treatment, critical care and emergency medicine.
In July this year, Mankind Pharma announced that it will fully acquire Bharat Serums and Vaccines from private equity firm Advent International for around Rs 13,630 crore.
The company has entered into a definitive agreement to acquire a 100 per cent stake in the BSV for an enterprise value of around Rs 13,630 crore.
This strategic move marks a significant leap for the drug maker, positioning it as a leader in the Indian 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.
The deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices as well as promotes fair competition in the marketplace.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)