• Mankind looking to buy biotech companies

    • December 7, 2019
    • Posted By : admin
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    •   49 views

    Mankind Pharma is actively looking for buyouts in the biotechnology space after talks with Bharat Serums and Vaccines fell through. The company feels that a manufacturing site would be crucial for its biotechnology business-and is open to inorganic acquisition in this space. Meanwhile. Mankind is all set to launch a synthetic female hormone product as the first Indian company and the second global company after Abbott. The acute therapy focussed company has recently shifted its focus to chronic therapy areas like diabetes and cardiac ailments. It is also driving five per cent of its turnover towards research and development (R&D). Bulk of the R&D cost is towards .blosimilars. However, Rs 5600 crore Mankind is also keen to launch products In the biotechnology space and is open to inorganic acquisition in the segment. “For the biotechnology segment we are open to inorganic growth. We are looking to acquire a suitable target that would bring in brands as well
    as manufacturing sites. We plan to launch biotech products in the infertility segment. We were in talks with Bharat Serums, but the talks fell through,” said RC Juneja, founder and chairman of Mankind Pharma. Mankind feels that having a biotech manufacturing plant which can come through acquisition is critical for its biotech business. Juneja said that if they did not find a good value deal, then they would focus on internal R&D and set up their own plant. At present the company has 21 manufacturing sites.

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