Fri. Mar 31st, 2023

AHMEDABAD: Gujarat-based pharmaceutical major, Torrent Pharmaceuticals on Tuesday announced it will acquire dermatology firm, Curatio Healthcare (I) Private Limited for Rs 2,000 crore.
The companies have entered into a definitive agreement paving the way for Torrent’s 100% acquisition of Curatio. The transaction is subject to conditions precedent and is expected to close within one month.
“The consideration includes Rs 115 crore of cash and cash equivalents in the acquired business indicating an enterprise value of Rs 1,885 crore,” Torrent Pharma stated in its regulatory filing.
Following the acquisition, Torrent Pharma will add a field force of 600 medical representatives and a distribution network of 900 stockists. With this deal, Torrent Pharma will be among the 10 players in the dermatology segment and the leader in the cosmetic dermatology space.
Commenting on the acquisition, Aman Mehta, director, Torrent Pharma, said, “The acquisition offers Torrent the opportunity to enhance its presence in dermatology with a differentiated portfolio and is a strong strategic fit. 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.”
With a portfolio of at least 50 brands marketed in India, Curatio reported a revenue for 2021-22 at Rs 224 crore. Dermatology accounts for 82% of Curatio’s revenue.
Sequoia, ChrysCapital and the promoters of Curatio stated, “Over the last 15 years, Curatio has built a strong portfolio of differentiated products in the derma segment. We believe Torrent is best suited to further catapult the business which we have built.”

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