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Mankind Pharma joins race for Healthium; HUL in talks to divest Pureit

VCCircle

VCCircle · 1y ago

Mankind Pharma joins race for Healthium; HUL in talks to divest Pureit

Mankind Pharma is reportedly considering a bid for Healthium Medtech, in partnership with ChrysCapital. The pharmaceutical company is forming a consortium to evaluate the potential acquisition. This news comes following ChrysCapital's recent sale of its stake in Mankind Pharma. In another development, Hindustan Unilever Limited (HUL) is in talks to divest its Pureit water purifier business. These updates signal strategic moves within the healthcare and consumer goods sectors in India.

Related News

KKR, Novo Nordisk, others bid for Healthium buy

Livemint

Livemint · 1y ago

KKR, Novo Nordisk, others bid for Healthium buy

Private equity major KKR and pharma company Novo Nordisk, as well as India-focused private equity firm ChrysCapital and pharmaceutical company Mankind Pharma, have submitted final bids to acquire surgical sutures firm Healthium Medtech. The bids value the Bengaluru-based company at up to ₹6,500 crore and were submitted by a deadline of Wednesday night. Healthium, formerly known as Sutures India, is one of the largest global manufacturers of surgical sutures. The company has steadily introduced higher value-added products and has a presence in over 90 countries.

Grapevine: Zydus joins Torrent in race for JB Chemicals; The New Shop eyes 24Seven

VCCircle

VCCircle · 11m ago

Grapevine: Zydus joins Torrent in race for JB Chemicals; The New Shop eyes 24Seven

In the race to acquire JB Chemicals and Pharmaceuticals, Torrent Pharmaceuticals and Zydus Lifesciences are competing with private equity firm EQT. They have been shortlisted by KKR, the current owner of JB Chemicals. This comes after earlier reports of Torrent Pharma being in advanced talks to acquire KKR's stake in the company. Meanwhile, The New Shop is reportedly looking to acquire 24Seven.

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

Livemint

Livemint · 9m ago

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

- The Competition Commission of India (CCI) has approved the proposed acquisition of Bharat Serums and Vaccines by Mankind Pharma for ₹13,630 crore. - Mankind Pharma announced in July that it would acquire Bharat Serums and Vaccines from private equity firm Advent International for around ₹13,630 crore. - Mankind Pharma will raise up to ₹10,000 crore through the issuance of non-convertible debentures and commercial papers. - The acquisition of Bharat Serums and Vaccines will establish Mankind Pharma as the market leader in the Indian women's health and fertility segment. - Mankind Pharma is one of the largest pharmaceutical companies in India, engaged in developing, manufacturing, and marketing pharmaceutical finished dosage formulations. - Bharat Serums and Vaccines is involved in research, development, manufacturing, and distribution of pharmaceutical formulations, APIs, and health supplements.

Mankind Pharma in talks with PE for consortium bid of Bharat Serums: Report

Livemint

Livemint · 1y ago

Mankind Pharma in talks with PE for consortium bid of Bharat Serums: Report

Pharmaceutical company Mankind Pharma is reportedly in talks with private equity firms, including Bain Capital, Blackstone, Carlyle, and KKR, to form a consortium bid to acquire Bharat Serums and Vaccines (BSV). BSV is being sold by its current owner, Advent International, with a price tag of over $2 billion. However, sources suggest that the final transaction may range between $1.5 - 1.8 billion. Mankind Pharma is looking to gather funds for the potential acquisition, either independently or by partnering with another investor. The company is also planning to raise funds through a qualified institutional placement.

Mankind Pharma to buy Bharat Serums as Advent International exits

VCCircle

VCCircle · 12m ago

Mankind Pharma to buy Bharat Serums as Advent International exits

Mankind Pharma has agreed to acquire Bharat Serums and Vaccines (BSV) from private equity firm Advent International for around $1.63 billion. This acquisition will position Mankind Pharma as a leader in the Indian women's health and fertility drug market and provide access to other critical care products. BSV has a niche portfolio in women's health, with a strong R&D center and a diverse product pipeline. The company reported revenue of around $237 million in FY24, with annualized revenue growth of 21% over the last three years.

Family Inc cheques into Oyo's Rs 1,000 crore fundraise

Economic Times

Economic Times · 1y ago

Family Inc cheques into Oyo's Rs 1,000 crore fundraise

Indian hospitality startup Oyo is in advanced talks to raise about $120 million (Rs 1,000 crore) from family offices of top Indian corporate executives and stock market experts. Potential backers include corporate strategy advisor Anand Jain, Mankind Pharma promoter brothers Ramesh and Rajeev Juneja, and Utpal Sheth, a close aide of late market expert Rakesh Jhunjhunwala. Family offices are becoming increasingly important as a source of capital for new-age companies. Oyo's proposed round is expected to value the company at about $2.5 billion, marking a significant drop from its peak valuation of $9 billion in 2021.

HUL appoints Vivek Mittal as Executive Director, Legal and Corporate Affairs

YourStory

YourStory · 7m ago

HUL appoints Vivek Mittal as Executive Director, Legal and Corporate Affairs

Vivek Mittal has been appointed as the Executive Director of Legal and Corporate Affairs at Hindustan Unilever Limited (HUL). He will join the company's management committee in March 2025, taking over from Dev Bajpai, who had announced his early retirement in October. Currently the Global General Counsel at Dr Reddy's Laboratories, Mittal has over 25 years of experience in various industries including pharma, consumer goods, and finance. HUL CEO Rohit Jawa expressed confidence in Mittal's abilities to drive legal function growth and transformation at HUL.

Mankind plans fundraise for BSV deal; Raymond to list two more units

VCCircle

VCCircle · 10m ago

Mankind plans fundraise for BSV deal; Raymond to list two more units

Mankind Pharma Ltd aims to raise funds worth Rs 9,000 crore ($1.2 billion) through non-convertible debentures (NCDs) and short-term commercial paper to finance its acquisition of Bharat Serums and Vaccines Ltd (BSV) for Rs 13,630 crore. The company plans to borrow at an average cost of around 8.5% with varying maturities.

Mankind Pharma’s large fund-raising plan irks investors

Money Control

Money Control · 1y ago

Mankind Pharma’s large fund-raising plan irks investors

Shares of Mankind Pharma declined despite reporting strong earnings in the March 2024 quarter. The company saw a revenue increase of 18.9%, and provided positive guidance for profit margins and business growth in FY25. However, the stock dropped by 4.5% on May 16, although it has slightly recovered since then. The reasons for this decline are uncertain.

Pharma, healthcare companies participate in electoral bonds scheme

Thehindubusinessline

Thehindubusinessline · 1y ago

Pharma, healthcare companies participate in electoral bonds scheme

Several listed and unlisted healthcare and pharmaceutical companies, including Aurobindo Pharma, Mankind Pharma, Dr Reddy’s Laboratories, and Cipla, have participated in India's electoral bonds scheme. Along with vaccine companies and hospital Yashoda Super Speciality Hospital, these companies have made significant contributions through various entities. While there is nothing inherently wrong with their participation, questions regarding possible conflicts of interest and implications for access to medicines and drug price control have been raised by industry observers. The companies involved have not publicly commented on the matter.

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