Torrent Prescribed drugs to accumulate Curatio Healthcare for Rs 2,000 crore
BENGALURU:
Torrent Prescribed drugs on Tuesday stated it would purchase Curatio Healthcare for Rs 2,000 crore to strengthen its presence within the dermatology section.
The corporate has entered into definitive agreements to accumulate 100 per cent of Curatio Healthcare for Rs 2,000 crore, Torrent Prescribed drugs stated in a regulatory submitting.
“The consideration consists of Rs 115 crore (on the date of signing) of money and money equivalents within the acquired enterprise indicating an enterprise worth of Rs 1,885 crore,” it added.
The acquisition presents Torrent the chance to reinforce its presence in dermatology with a differentiated portfolio and is a robust strategic match, Torrent Prescribed drugs Director Aman Mehta stated.
“Curatio has constructed a commendable set of excessive market share manufacturers in beauty and pediatric dermatology that we look ahead to including to our product choices,” he added.
Chennai-headquartered Curatio has a portfolio of over 50 manufacturers, together with Tedibar, Atogla, Spoo, B4 Nappi and Permite, within the beauty dermatology section in India. Its high ten manufacturers account for round 75 per cent of whole income.
It clocked a income of Rs 224 crore in FY22 and dermatology accounts for 82 per cent of Curatio’s income, the submitting stated.
The acquisition will catapult Torrent Pharma into the league of high 10 gamers within the dermatology section and make it a pacesetter within the beauty dermatology area, the corporate stated.
“With this acquisition, Torrent Pharma will add a subject drive of 600 medical representatives and a distribution community of 900 stockists,” the submitting added.
Moreover the promoters of Curatio, Sequoia and ChrysCapital will likely be exiting from the corporate by the transaction.
The transaction is topic to circumstances precedent and is predicted to shut inside one month, Torrent Pharma stated.
(This story has not been edited by NDTV workers and is auto-generated from a syndicated feed.)
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