"Mankind Pharma Limited has entered into a definitive agreement to acquire a 100% stake in Bharat Serums and Vaccines Limited (BSV) from Advent International (“Advent”), one of the world’s largest and most experienced private equity investors, for an enterprise value of approx. INR 13,630 Crores, subject to closing related adjustments," the company said in a statement on exchanges.

This strategic move marks a significant leap for Mankind Pharma, positioning it as a market leader in the Indian women's health and fertility drug market alongside access to other high entry barrier products in critical care with established complex R&D tech platforms, the company added.

“BSV’s acquisition represents a pivotal milestone in Mankind’s journey, establishing us as market leader in Indian women’s health & fertility segment. We are also delighted to welcome BSV’s 2,500+ members to our Mankind family. Together, we look forward to achieving even greater milestones and making a positive impact on women's health worldwide,” said Rajeev Juneja, Vice-chairman and Managing Director, Mankind Pharma.

Mankind Pharma rose as much as 1.2% following Thursday’s Bloomberg News report. The shares are up about 6.5% this year and 10% in the past 12 months.

Founded in 1971, biopharmaceutical company Bharat Serums has a research and development center in Mumbai with over 100 scientists and operations that cover more than 70 countries, as well as subsidiaries in Germany, the Philippines and the US, according to its website.