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Curatio Healthcare signed an agreement with Torrent Pharma to acquire 100 per cent share of this (Curatio) company. Cash and cash equivalent of Rs 115 crore in the acquired business which indicates an enterprise value of Rs 1,885 crore. This acquisition is to enhance its presence in dermatology with a differentiated portfolio and is a strong strategic fit. Additionally the company will have 600 medical representatives and a distribution network of 900 stockists. Over 50 brands of portfolio have been present in Curatio cosmetic dermatology segment in India. The turnover of the company is 224 crore in the financial year ended 30 March 2022. The transaction is subject to precedent conditions and is expected to close within one month.
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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.”
Torrent Pharma, with annual revenues of more than Rs 8,500 crore, is the flagship company of the Torrent Group. It is ranked 8th in the Indian pharmaceuticals market and is amongst the top 5 in the therapeutics segments of Cardiovascular (CV), Central Nervous System (CNS), Gastro Intestinal (GI) and Vitamins Minerals Nutritionals (VMN).
On consolidated net profit rose 7 per cent to Rs 354 crore on 10 per cent increase in net revenue from operations to Rs 2,347 crore in the first quarter of FY23 over the first quarter of FY22. Torrent Pharma shares down 3.32 per cent to current trade at Rs 1482.70
