Mankind Gets A Booster Dose

The pharma company under Sheetal Arora is looking to increase its footprint on foreign soil by leveraging its recent acquisitions and increasing investments in R&D

- Yuthika Bhargava

In the 1990s, a newly liberalised India was undergoing sweeping economic change.

Satellite TV dishes were sprouting on rooftops, and a wave of consumer brands flooded the urban shelves. But for millions across the country—particularly in small towns and villages—a visit to the doctor often ended in a quiet compromise.

Prescriptions were written but rarely followed in full. With household budgets already stretched thin, families would often buy just a day's worth of medicine, as the full threeor five-day course was simply out of reach.

In that gap—between medical advice and affordability—a small family-run venture in Meerut saw an opportunity, marking the start of Mankind Pharma, which has since grown into a listed company with a market cap of over $10bn.

Going Shopping

Cut to 2025. The company, till now mainly domestic-focused, has been eyeing the export market. To grab a bigger slice of the foreign-market pie Mankind Pharma has been on an acquisition drive. Last October the company made its largest-ever acquisition—the ₹13,768-crore purchase of Bharat Serums and Vaccines (BSV). Earlier in 2022, it acquired brands of Panacea Biotec Pharma enabling entry into transplant and oncology, followed by acquisition of Daffy and Combihale from Dr Reddy's Laboratories.

Funded through internal accruals and debt, the acquisition of BSV gives Mankind Pharma access to high-entry-barrier therapies such as fertility and critical care, along with an international presence. The company plans to leverage BSV's portfolio in countries like the UK, Germany, Spain, Russia, Australia, the UAE and Brazil to gradually increase its export share.