Mankind Pharma Ltd’s acquisition of Bharat Serums and Vaccines Ltd (BSV) for INR136.3bn ($1.6bn) was without doubt the showstopper in 2024. As private equity (PE) firm Advent profitably exited BSV, the deal left Mankind seeking INR100bn in funds for the global toehold, R&D platform and niche therapy strength offered by the acquired company.
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