The acquisition offers Torrent the opportunity to enhance its presence in dermatology with a differentiated portfolio and is a strong strategic fit
Torrent Pharmaceuticals has entered into definitive agreements to acquire 100 per cent of Curatio Healthcare (I) for Rs 2,000 crore. The consideration includes Rs 115 crore (on the date of signing) of cash and cash equivalents in the acquired business indicating an enterprise value of Rs 1,885 crore.
Curatio has a strong presence in the cosmetic dermatology segment with a portfolio of over 50 brands, marketed in India. Curatio’s portfolio consists of leading brands such as Tedibar, Atogla, Spoo, B4 Nappi, and Permite, which are ranked among the top five brands in their covered market. The top ten brands of Curatio account for ~75% of total revenue. With this acquisition, Torrent Pharma will add a field force of 600 MRs and a distribution network of 900 stockists.
Aman Mehta, Director, Torrent Pharma 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 paediatric dermatology that we look forward to adding to our product offerings.”
The transaction is subject to conditions precedent and is expected to close within one month.