Mankind Pharma acquires Bharat Serums

Per a statement issued by Mankind Pharma on 25 July, the company has entered an agreement to acquire a 100% stake in Bharat Serums and Vaccines (BSV) from Advent International. The acquisition has been valued at approximately Rs 13,630-crore.

BSV boasts a product portfolio that spans women’s health, fertility, and critical care. The company has an in-house R&D centre with a team of more than 60 scientists and a product portfolio with scalability potential.

In the release, Rajeev Juneja, the vice chairman and managing director of Mankind Pharma said, “BSV’s acquisition represents a pivotal milestone in Mankind’s journey, establishing us as market leader in Indian women’s health and fertility segment. We believe women’s health and fertility segment has massive opportunity along with strong growth visibility globally, led by structural tailwinds.” More than 2,500 BSV employees will join Mankind as a result of this acquisition.

In FY 2024, BSV reported a revenue of Rs 1,723-crore — a 20% year-on-year growth with an adjusted EBITDA margin of 28%. The company’s revenue has increased at a compound annual growth rate (CAGR) of 21%.

BSV was set up in 1971 by Vinod Daftary. The company has facilities in Germany, approved by the European Union and the United States Food & Drug Administration. BSV also operates in the Phillippines through a fully-owned subsidiary.

According to a report by The Brainy Insights, the Indian pharmaceutical packaging industry was valued at USD 5.96-billion in 2023 and is seeing a compound annual growth rate (CAGR) of 7.8%. The market is valued to grow to USD 12.50-billion in 2033.