The consideration includes ₹115 crore in cash and cash equivalents in the acquired business, indicating an enterprise value of ₹1,885 crore
The consideration includes ₹115 crore in cash and cash equivalents in the acquired business, indicating an enterprise value of ₹1,885 crore
Torrent Pharmaceuticals Ltd. will buy 100% of Curatio Healthcare (I) Pvt. Ltd. for ₹2,000 crore to strengthen its presence in the fast-growing dermatology segment.
The consideration includes ₹115 crore in cash and cash equivalents in the acquired business, indicating an enterprise value of ₹1,885 crore, Torrent Pharmaceuticals said in a release. Curatio Healthcare has operations in India, Nepal, Sri Lanka and Philippines.
In the cosmetic dermatology segment, Curatio has a portfolio of more than 50 brands, including brands such as Tedibar, Atogla, Spoo, B4 Nappi, and Permite, which are ranked among the top five brands in their covered markets, Torrent Pharmaceuticals said in an investor presentation.
Top ten brands of Curatio account for 74% of total revenue and top 3 brands about 50% of total sales. Cosmetic dermatology accounts for 84% of revenue.
Curatio posted a revenue of ₹224 crore for FY22. With YTD August sales up by 25%, it is expected to cross ₹275 crore in FY23.
With this deal, Torrent Pharmaceuticals would enter the league of top 10 players in the dermatology segment from the current 21 st position, Torrent Pharmaceuticals said in the release.
Commenting on the acquisition, Aman Mehta, Director 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.”
