Business Standard

Mankind Pharma in fray to acquire Advent's stake in Bharat Serums: Report

Mankind Pharma's stock surged 3.11 per cent on BSE on Tuesday

drugs, pharma sector

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New Delhi-based Mankind Pharma is planning to acquire Mumbai-based biopharma firm Bharat Serums and Vaccines (BSV) from private equity player Advent PE, according to media reports. Advent is seeking a $2 billion valuation for the 100 per cent stake it owns in BSV.

According to a report by CNBC-TV18, Advent is looking to exit BSV, which has been involved in women's health, critical care and emergency medicines, and assisted reproductive therapies for some time now. Business Standard was not able to verify the news till the time of going to press.

Mankind Pharma's stock surged 3.11 per cent on the Bombay Stock Exchange on Tuesday.

Emails sent to Mankind Pharma and BSV did not elicit any responses till the time of going to press. Advent PE refused to comment on the matter. BSV is projected to report earnings before interest, taxes, depreciation, and amortisation of Rs 500 crore by the end of FY24 and Rs 650 crore by the end of FY25.

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First Published: May 14 2024 | 11:06 PM IST

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