Mankind Pharma to Acquire Bharat Serum & Vaccines from Advent

Advent is reportedly planning to divest its entire stake in Bharat Serum & Vaccines for a valuation of $2 billion

Mankind Pharma is set to acquire Bharat Serum & Vaccines from private equity firm Advent.

Advent is reportedly planning to divest its entire stake in Bharat Serum & Vaccines, as per a CNBC-TV18 report. The firm is seeking a valuation of $2 billion for its total stake, with plans to exit since February of this year.

Advent, which currently holds a 100% stake, initially purchased a 74% stake in Bharat Serum & Vaccines in November 2019 from Orbimed Asia and Kotak PE for $500 million.

The remaining 26% stake was acquired in 2020 for an undisclosed amount, providing an exit for its previous promoters.

Established in 1971 by the late Dr Vinod G Daftary, Bharat Serum and Vaccines, researches, develops, manufactures, and markets injectable biological, pharmaceutical, and biotechnology products.

The firm specializes in women’s healthcare, assisted reproductive treatment, critical care, and emergency medicines. The acquisition is anticipated to strengthen Mankind Pharma’s standing in the pharmaceutical industry.

Founded in 1984 by Peter Brooke, Advent International is a global private equity firm. The firm has completed over 50 investments in 17 countries worldwide across a range of sub-sectors, including pharmaceuticals, life sciences, and medical devices.

Some of Advent’s recent global pharmaceutical services investments include BioDuro, GS Capsule, ICE Group, Suven Pharmaceuticals/Cohance Lifesciences, and Syneos Health. In a notable recent investment, Advent International revealed its plans to inject INR 2,475 Cr into Apollo Hospitals’ subsidiary, Apollo HealthCo.

Mankind Pharma’s Latest Developments

Last month, Mankind Pharma joined the bidding race to acquire Healthium Medtech, a leading player in the field. There were reports that Mankind Pharma and ChrysCapital are jointly evaluating the purchase of the company and forming a consortium.

The development comes immediately after ChrysCapital divested its entire stake in Mankind Pharma on March 26, 2024.

Last year, Mankind Pharma appointed Tarun Kapoor as its new vice president of Digital Transformation.

Founded in 1995 by Ramesh and Rajeev Juneja, Mankind Pharma ranks as the fourth-largest pharmaceutical company in India by domestic sales. Its mission is to provide cost-effective, innovation-based superior quality pharmaceutical products across the globe, improving the lives of patients.

Recently, Mankind Pharma has been actively expanding its reach. The company’s shares surged 4.5% on May 14, 2024, following the news of its plans to acquire Bharat Serum & Vaccines.

The company is also scheduled to release its Q4 earnings on May 15, 2024. Around 34 foreign countries in Asia, Africa, Southeast Asia, the Gulf of Mexico, and the CIS are where Mankind conducts its business. The pharma has three R&D centers located in IMT Manesar, Gurugram, and Haryana.