- Mankind Pharma has acquired a 100% stake in Bharat Serums and Vaccines (BSV) for an enterprise value of Rs 13,630 crore.

Mankind Pharma, a prominent player in the Indian OTC drug market, has finalised the acquisition of Bharat Serums and Vaccines (BSV) from global investor Advent International. The deal, valued at Rs 13,630 crore, was announced in a joint statement on Thursday.
This acquisition marks a significant expansion for Mankind, which went public with a Rs 4,326 crore IPO in April 2023. The purchase of BSV, which develops and markets biological and pharmaceutical formulations, enhances Mankind’s presence in the women’s health, fertility, and critical care sectors. The deal also integrates BSV’s complex R&D platforms into Mankind’s operations.
Mankind outpaced competitors, including Swedish private equity firm EQT and a consortium led by the Abu Dhabi Investment Authority, to secure BSV. This follows Mankind’s previous bid for Healthium Medtech, which was ultimately won by KKR.
BSV, established in 1971, has a significant footprint with manufacturing facilities in Maharashtra and R&D units at its headquarters. The company also has subsidiaries in the US, Germany, the Philippines, and India. Advent International acquired a majority stake in BSV in 2019, marking a notable exit for earlier investors.