Torrent Pharmaceuticals has entered into definitive agreements to acquire 100% of Curatio Healthcare for ₹2,000 crore ($245 mln), the company said in a regulatory filing.
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 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,”
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.
The acquisition will catapult Torrent Pharma into the league of top 10 players in the dermatology segment and make it a leader in the cosmetic dermatology space, the company said.
“With this acquisition, Torrent Pharma will add a field force of 600 medical representatives and a distribution network of 900 stockists,”
the filing added.
Besides the promoters of Curatio, Sequoia and ChrysCapital will be exiting from the company through the transaction.
The transaction is subject to conditions precedent and is expected to close within one month, Torrent Pharma said.
Source: The Hindu