Fri Sep 20 13:41:57 UTC 2024: ## Mankind Pharma’s Acquisition of Bharat Serums and Vaccines Poised for Growth

**Mumbai, India** – Mankind Pharma’s recent acquisition of Bharat Serums and Vaccines (BSV) is expected to drive significant growth for the company, according to analysts. This strategic move aligns with Mankind’s vision to focus on innovation and differentiation with high-entry barrier products, and BSV’s expertise in R&D and sourcing provides a strong foundation for this vision.

The combined strengths of Mankind and BSV are expected to create a formidable player in the Indian market. Mankind’s strong network and distribution channels will significantly boost BSV’s domestic sales, particularly in the underpenetrated but large IVF market, estimated at $6 billion. The collaboration has the potential to make them a global leader in this segment.

Analysts believe that the market is underestimating BSV’s “speciality” and its potential for long-term growth. Under Mankind’s leadership, BSV could reach new heights, achieving $1 billion in sales and a 35% EBITDAM by FY32.

Mankind’s proven track record of building successful brands and its robust 16,000-strong sales force will further fuel BSV’s growth. The company’s expansion into the chronic care segment has been impressive, and analysts forecast an 18% EBITDA CAGR (FY24-FY27E).

Given Mankind’s strong fundamentals and the potential of BSV, analysts have initiated a “Buy” rating for the company, valuing it at 30x Sep’26 proforma EBITDA. This acquisition has the potential to propel Mankind to new heights and establish a strong foothold in the global healthcare market.

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