Torrent Pharma to acquire Curatio for Rs 2,000 crore

  • IANS
  • Stock Market News
Torrent Pharma to acquire Curatio for Rs 2,000 crore
Credit: © Reuters.

Chennai, Sep 27 (IANS) The Rs 6,742 crore revenue Torrent Pharmaceuticals Ltd has inked a definitive agreement to acquire city-based Curatio Health Care (I) Private Ltd for a consideration of Rs 2,000 crore.

In a regulatory filing, Torrent Pharmaceuticals said that the Rs 224 crore Curatio has a strong presence in the cosmetic dermatology segment with a portfolio of over 50 brands, marketed in India.

The purchase consideration will be a mix of Rs 115 crore cash and cash equivalents in the acquired business indicating an Enterprise Value of Rs 1,885 crore.

The acquisition offers an opportunity to enhance its presence in dermatology with a differentiated portfolio and is a strong strategic fit, Torrent Pharmaceuticals said.

With this acquisition, Torrent Pharmaceuticals will add a field force of 600 medical representatives and a distribution network of 900 stockists

--IANS

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