With an eye-catching $1.6bn deal, Mankind has acquired Bharat Serums and Vaccines to add a high-barrier, specialty business, a credible biologics R&D engine and a complementary portfolio of women’s fertility and health treatments while PE firm Advent finds a profitable exit. What’s next?
Mankind Pharma Ltd. Pharma, which went public via an initial public offering (IPO) just last year, has furthered its growth ambition with an acquisition of Bharat Serums And Vaccines Limited (BSV) at an enterprise value of INR136.3bn ($1.6bn) from private equity firm Advent International.
The enterprise value as of now translates to 22-23 times BSV's expected FY25 EBITDA (earnings before interest, tax and depreciation),...
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