SUMMARY
- Mankind Pharma acquired Bharat Serums and Vaccines for Rs 13,768 crore, funded via internal accruals and external debt.
- The acquisition strengthens Mankind’s presence in the women’s health and fertility drug market, alongside niche animal bite therapies.
- The company aims to maintain a net debt-to-EBITDA ratio below two times by FY26, ensuring sustainable financial growth.
Delhi-based pharmaceutical giant Mankind Pharma has finalized the acquisition of Bharat Serums and Vaccines (BSV) for Rs 13,768 crore. The acquisition, fully funded through internal accruals and external debt, involved a mix of non-convertible debentures (NCDs) and commercial papers. The company also hinted at a potential equity raise to retire a portion of the debt, a move already approved by shareholders.
Rajeev Juneja, Vice Chairman and Managing Director of Mankind Pharma, described the acquisition as a strategic leap, particularly in the women’s health and fertility drug markets. BSV’s established R&D platforms and its niche portfolio in fertility drugs, post-pregnancy therapies, and products addressing animal bites, such as snake venom antiserum and equine rabies immunoglobulin, align with Mankind’s vision of entering high-barrier sectors.
Mankind Pharma highlighted that this EBITDA margin-accretive deal will help maintain its net debt-to-EBITDA ratio below two times by FY26, ensuring sustainable growth and financial discipline.
Mankind Pharma’s stock closed at Rs 2,529.80 per share on the Bombay Stock Exchange (BSE), down 1.46% after the announcement was made post-market hours.
