Mankind Pharma secures CCI approval for ₹13,360-crore worth acquisition of Bharat Serums and Vaccines

A proposed acquisition of Bharat Serums and Vaccines by Mankind Pharma for ₹13,630 crore was approved by the Competition Commission of India (CCI) on Tuesday.

"Commission approves acquisition of Bharat Serums and Vaccines Limited by Mankind Pharma Ltd," the regulator said in a post on X.

Mankind Pharma had announced in July that it will fully acquire Bharat Serums and Vaccines from private equity firm Advent International for around ₹13,630 crore.

The company has entered into a definitive agreement to acquire a 100 per cent stake in the Bharat Serums and Vaccines for an enterprise value of around ₹13,630 crore.

On September 30, Mankind Pharma said it will raise up to ₹10,000 crore via issuance of non-convertible debentures and commercial papers.

The board has approved to raise up to ₹5,000 crore via non-convertible debentures in 3-4 distinct series with maturities of up to 48 months, said the company.

Deals which are 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.

In June this year, Rajeev Juneja, Mankind Pharma Vice-Chairman and MD, said that BSV's acquisition represents a pivotal milestone in Mankind's journey, establishing us as the market leader in the Indian women's health and fertility segment.

Mankind Pharma, one of the largest pharmaceutical companies in India, is engaged in developing, manufacturing, and marketing a diverse range of pharmaceutical finished dosage formulations.

About companies

Mankind, through its subsidiaries, is 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.