Last updated : April 13, 2022 8:01 am
The total investment is in the region of Rs 200 crore
Bharat Serums and Vaccines has announced that they will set up a state-of-the-art injectable and manufacturing facility at Genome Valley with an investment of Rs 200 crore, tweeted KT Rama Rao, Telangana cabinet minister for IT, Industry & Commerce.
He added that this will consolidate Hyderabad’s position as a vaccine hub of the world. Earlier in the day he had a meeting with the MD OF BSV, Sanjiv S Navangul in Hyderabad.
On April 5th BSV had announced acquisition of Tidilani, a leading brand in women’s health from Jagdale Industries. Navangul had then stated that, “There exists a lot of opportunity in India to address the medical needs of women. As a focused women’s health company, we are committed to acquiring brands that complement our current women’s portfolio. We are delighted with the addition of Tidilan (Isoxsuprine hydrochloride) to BSV’s Women’s Healthcare portfolio. This will be an important milestone towards our goal of being the top three women’s health players in India and as we continue to bring treatments and cures that help serve our patients better.”
In March this year, TTK Healthcare had decided to sell its pharma division to BSV. The consideration for the said transaction is agreed at Rs 805 crore out of which 74 per cent will be paid in cash and 26 per cent will be settled by way of allotment of equity shares for the business acquired. The company further stated that the sale is expected to be completed within 120 days from March 21, subject to shareholder approval. It further stated that TTK’s portfolio of products is complementary to BSV’s portfolio as it is centralised on infertility and gynecology.