Torrent Pharma to acquire skincare manufacturer Curatio Healthcare: Details
Mumbai: Ahmedabad based leading pharmaceutical company, Torrent Pharmaceuticals, is nearing a deal to acquire skincare product maker Curatio Healthcare, according to sources quoted by the ET.
According to additional reports on the aforementioned transaction, the agreement will be executed within the next two weeks andTorrent will probably pay $2,100 crore for the transaction..
Torrent was not the only pharmaceutical company shortlisted for the acquisition of Curatio; other contenders were Aurobindo, Dr. Reddy's, JB Chemicals, Biocon, and Zydus.
Eventually, as per the reports, the two remaining parties in the race to acquire Chennai-based Curatio were Torrent Pharma and KKR-controlled JB Chemicals.
It is reported that current Curatio shareholders Sequoia Capital, which owns a 33% stake, and ChrysCapital, which has a 20% stake, will sell their shares. The promoters of the company, including GK Ramani, as well as the management, will also be leaving.
Curatio, which was set up in 2005, runs through a network of more than 700 distributors and primarily targets dermatologists, paediatricians, and gynaecologists. Tedibar baby soap is its most well-known brand. During the fiscal year 2022, the company reported 240 crore rupees in sales and 60 crore rupees in operating profit. For the current fiscal year, the corporation forecasts 300 crores in revenue and 90 crores in operating profit.
However, in response to the request for clarification regarding the aforementioned agreement, the major pharmaceutical company Torrent Pharmaceutical cited, "It is the company's policy not to respond to any speculative news items. As a growing Company, we do continuously scout for the business opportimities, both organic and. inorganic. As a responsibie listed organization, we inform the Exchanges all events, information which are required to be disclosed in accordance with terms of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015."
Disclaimer: This website is primarily for healthcare professionals. The content here does not replace medical advice and should not be used as medical, diagnostic, endorsement, treatment, or prescription advice. Medical science evolves rapidly, and we strive to keep our information current. If you find any discrepancies, please contact us at corrections@medicaldialogues.in. Read our Correction Policy here. Nothing here should be used as a substitute for medical advice, diagnosis, or treatment. We do not endorse any healthcare advice that contradicts a physician's guidance. Use of this site is subject to our Terms of Use, Privacy Policy, and Advertisement Policy. For more details, read our Full Disclaimer here.
NOTE: Join us in combating medical misinformation. If you encounter a questionable health, medical, or medical education claim, email us at factcheck@medicaldialogues.in for evaluation.