New Delhi: Mankind Pharma announced on Wednesday that it has finalized the deal to purchase Bharat Serums and Vaccines Ltd (BSV) for a sum of Rs 13,768 crore. The company's latest move signals a major advancement, establishing its position as a key player in the Indian market for women's health and fertility drugs, as well as providing access to other difficult-to-enter products in the critical care sector with well-established research and development technology platforms, according to a statement from the pharmaceutical company.
Mankind Pharma Welcomes BSV's 2,500+ Members, Aiming for Rapid Expansion in Biologics and Advanced Therapies
BSV has created new biologic products internally and specializes in niche markets, showcasing its impressive research and development skills. It also has a diverse range of branded products in sectors such as women's health, fertility, critical care, and immunoglobulins. Mankind Pharma's Vice-chairman and Managing Director, Rajeev Juneja, expressed a warm welcome to BSV's 2,500 plus members, as they join the Mankind family, marking the beginning of an exciting journey and paving the way for rapid expansion.
Sanjiv Navangul, MD & CEO of BSV, expressed that joining the Mankind Pharma family enhances BSV's size, strength, and performance. "By working together, we can now guarantee a broader reach for our advanced and locally created intricate therapies to millions of patients in India and around the world. He said that we will work together to discover new possibilities, uncover opportunities, and optimize potential to achieve our priorities and business objectives. In July of this year, Mankind stated that it will be purchasing full ownership of BSV.
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