Mankind Pharma acquires Panacea Biotec’s Domestic Formulation Brands for India and Nepal
Panacea Biotec’s Board of Directors as well as the Board of its wholly owned subsidiary viz. Panacea Biotec Pharma Ltd. (PBPL) approved sale of Domestic Formulations Brands of PBPL, for India and Nepal, to Mankind Pharma Limited, India’s 4th largest pharmaceutical company.,for INR 1872 Crore. The parties have today entered into definitive agreements in this regard. The consolidated revenue of PANACEA BIOTEC is Rs. 634.78 Crore and the domestic formulations brands being sold have reported revenue from operations of ~INR 132 crore for H1FY2021-22 which is ~42% of Panacea Biotec’s consolidated revenue for H1FY2021-22. As part of this arrangement, Mankind…