The latest takeover is anticipated to boost the presence of Torrent in the dermatology segment. Indian company Torrent Pharmaceuticals has signed a definitive agreement for the complete acquisition of Curatio Healthcare for $245.16m (Rs20bn). The deal comprises cash and cash equivalents worth $14m (Rs1.15bn) in the acquired business representing an enterprise value of $231m (Rs18.85bn).
The latest takeover is anticipated to boost the presence of Torrent in the dermatology segment. Holding a presence in the cosmetic dermatology sector, Curatio’s portfolio comprises more than over 50 brands that are commercialised in India. The portfolio includes brands such as Tedibar, Atogla, Spoo, B4 Nappi and Permite.
Torrent Pharmaceuticals director Aman Mehta said: “We are delighted to enter into this deal with Curatio.
“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.”
Subject to necessary conditions, the deal is anticipated to conclude in a month.
A flagship company of the Torrent Group, Torrent Pharmaceuticals is a speciality-focused firm with more than 74% of its revenue from chronic and sub-chronic therapies in India.
Having a presence in 40 countries, the company has seven manufacturing plants. Among these facilities, four are approved by the US Food and Drug Administration (FDA).
Torrent R&D infrastructure employs over 800 scientists.
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