The Rs 6,742 crore income Torrent Medicines Ltd has signed a definitive agreement to acquire city-based Curatio healthcare (I) Private Ltd for a fee of Rs 2,000 crore.
In a regulatory filing, Torrent Pharmaceuticals said the Rs 224 crore Curatio has a strong presence in the cosmetic dermatology segment with a portfolio of more than 50 brands, marketed in India.
In a regulatory filing, Torrent Pharmaceuticals said the Rs 224 crore Curatio has a strong presence in the cosmetic dermatology segment with a portfolio of more than 50 brands, marketed in India.
The purchase price will be a mix of Rs 115 crore cash and cash equivalents in the acquired company, indicating an enterprise value of Rs 1,885 crore.
The acquisition represents an opportunity to strengthen its presence in dermatology with a differentiated portfolio and is a strong strategic fit, Torrent Pharmaceuticals said.
With this acquisition, Torrent Pharmaceuticals adds a field force of 600 medical representatives and a distribution network of 900 dealers
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