Dr Reddy's Laboratories, Warburg Pincus, EQT frontrunners to buy BSV

Advent looking to exit 4 years after it picked up majority stake in biopharma firm

Dr Reddy’s Laboratories (DRL) and global private equity firms EQT and Warburg Pincus are the frontrunners for acquiring Advent’s stake in Mumbai-headquartered biopharmaceuticals firm Bharat Serums and Vaccines (BSV), said sources close to the development.

New Delhi-based Mankind Pharma too is in the fray, but it is taking a more conservative approach to valuation, according to sources.

“BSV is being valued at $1.25-1.5 billion at the moment, which is down from the earlier $2 billion. In 2019 the company was valued at $500 million,” said a source, who added that Mankind Pharma was interested in the deal if the valuations