Torrent Pharmaceuticals to acquire Curatio Healthcare for ₹2,000 crore
The Hindu
Torrent Pharmaceuticals has entered into definitive agreements to acquire 100% of Curatio Healthcare for ₹2,000 crore, the company said in a regulatory filing
Torrent Pharmaceuticals on September 27 said it will acquire Curatio Healthcare for ₹2,000 crore to strengthen its presence in the dermatology segment.
The company has entered into definitive agreements to acquire 100% of Curatio Healthcare for ₹2,000 crore, Torrent Pharmaceuticals said in a regulatory filing.
“The consideration includes ₹115 crore [on the date of signing] of cash and cash equivalents in the acquired business indicating an enterprise value of ₹1,885 crore,” it added.
The acquisition offers Torrent the opportunity to enhance its presence in dermatology with a differentiated portfolio and is a strong strategic fit, Torrent Pharmaceuticals Director Aman Mehta said.
“Curatio has built a commendable set of high market share brands in cosmetic and pediatric dermatology that we look forward to adding to our product offerings,” he added.
Chennai-headquartered Curatio has a portfolio of over 50 brands, including Tedibar, Atogla, Spoo, B4 Nappi and Permite, in the cosmetic dermatology segment in India. Its top ten brands account for around 75% of total revenue.
It clocked a revenue of ₹224 crore in FY22 and dermatology accounts for 82% of Curatio’s revenue, the filing said.
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