Bharat Serums-TTK Healthcare M&A: Management expects 15% growth
Advent-backed homegrown private pharma company Bharat Serums and Vaccines is buying Chennai-based TTK Healthcare’s human pharma division for Rs 805 crore. Sanjiv Navangul, MD & CEO of BSV said that acquired business will grow at the rate of 15 percent plus and they become top player in Indian pharma market post-acquisition.
Advent backed homegrown private pharma company Bharat Serums and Vaccines is buying Chennai based TTK Healthcare’s human pharma division for Rs 805 crore. The company will receive 74 percent of the funds via cash and the remaining via equity shares.
Speaking to CNBC-TV18 on the deal, Sanjiv Navangul of Bharat Serums & Vaccines said that he expects the acquired business to give a 15 percent growth rate.
He said, “We clearly being a very strong player in women’s health and with such a strong presence in the gynecology segment, we believe that this is a clearly 15 or 15 percentage plus growth for us year-on-year."
TTK Health's pharma business is around 25 percent of the company's total turnover. The top 10 brands comprise around 70-80 percent of sales for the company with a strong focus on women's health.
Navangul said, “With this acquisition, we get to get much stronger into the retail section so it adds a lot of muscle for us from a retail section point of view. Secondly, with this, clearly, we become the number one player in women's health in the pharmaceutical market of India."
For full management commentary, watch the video.
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