Ahmedabad-headquartered Torrent Pharmaceuticals Limited has announced the acquisition of Chennai-based dermatology major Curatio Healthcare (I) Private Limited for Rs 2,000 crore. The deal will strengthen Torrent Pharma’s presence in the fast-growing dermatology segment.
Torrent Pharma has entered into a definitive agreement to acquire 100% stake in Curatio Healthcare (Curatio) for Rs 2,000 crore, that includes Rs 115 crore of cash and cash equivalents in the acquired business indicating an Enterprise Value of Rs 1,885 crore, an official statement said.
This development further builds up Torrent Pharma’s dermatology portfolio after its acquisition of Zyg Pharma, a part of Encore Group in 2015. With this deal, Torrent Pharma will enter the league of top ten players in the dermatology segment and will be the leader in the cosmetic dermatology space.
Curatio has a strong presence in the cosmetic dermatology segment with a portfolio of over 50 brands, marketed in India. Curatio’s portfolio consists of leading brands such as Tedibar, Atogla, Spoo, B4 Nappi, and Permite, which are ranked amongst top five brands in their covered market. Top ten brands of Curatio account for over 75% of total revenue, the official statement said.
With this acquisition, Torrent Pharma will add 600 medical representatives and a distribution network of 900 stockists. Over the last decade, cosmetic dermatology as a therapy has delivered an 18% CAGR.
Aman Mehta, director, said, “The acquisition offers Torrent the opportunity to enhance its presence in dermatology with a differentiated portfolio and is a strong strategic fit. Curatio has built a commendable set of high market share brands in cosmetic and pediatric dermatology that we look forward to adding to our product offerings.”