Summary :
Six pharmaceutical majors Aurobindo, Biocon, Dr Reddy’s, JB Chemicals, Torrent Pharma and Zydus Healthcare have been shortlisted for the acquisition of Curatio Healthcare, the Chennai-based company focused on skincare products, multiple people aware of the development, said.
Six pharmaceutical majors Aurobindo, Biocon, Dr Reddy’s, JB Chemicals, Torrent Pharma and Zydus Healthcare have been shortlisted for the acquisition of Curatio Healthcare, the Chennai-based company focused on skincare products, multiple people aware of the development, said.
Curatio Healthcare
Besides the pharma majors, PE buyout funds Advent International, Apax Partners and Warburg Pincus have been shortlisted for the next round, the sources said.
The second round of bids are expected by March-end, the sources said. Investment banks Edelweiss and Mape Advisory are running the sale process. Leading investors ChrysCapital, Sequoia and the promoters plan to sell Curatio Healthcare, at a valuation of 2,000-2,300 crore ($300 million), ET first reported in January. Feelers were sent to top buyout funds and domestic pharma majors such as Dr Reddy’s, Torrent and Cadila Healthcare.
Skincare is a niche as well as fast-growing sector where buyout opportunities are limited, which causes high interest from domestic pharmaceutical majors as well as PE funds, said one among the sources. Curatio Healthcare operates with a 700-plus distribution network, reaching over 6,000 doctors across India, focusing on dermatologists, paediatricians and gynaecologists, according to a company statement. Its largest brand is Tedibar baby soap.