The acquisition allows Hyderabad-headquartered Bharat Biotech to become world's largest manufacturer of rabies vaccines.
Vaccine maker Bharat Biotech on February 15 acquired Chiron Behring Vaccines from GlaxoSmithKline Asia for an undisclosed amount.
Bharat Biotech will acquire a 100 percent equity stake in Chiron Behring Vaccines in an all-cash transaction, subject to a number of closing conditions which Bharat Biotech and GSK intend to complete in the coming weeks.
The acquisition allows Hyderabad-headquartered Bharat Biotech to become the world's largest manufacturer of rabies vaccines.
Based in Ankleshwar, Gujarat, Chiron has about 250 staff and has a World Health Organisation (WHO) pre-qualified plant with a turnover of about Rs 200 crore.
Chiron was formed as a result of the purchase of the vaccines business of Hoechst AG by Chiron Corporation USA.
Bharat Biotech said it plans to enhance upon the manufacturing capabilities at Chiron and expand market access through product registrations in additional high demand countries.
Bharat Biotech has a wide portfolio of vaccines, with market access to more than 70 countries.
“This acquisition is strategic in helping us enhance our opportunities to achieve greater scale in tackling public health problems," said Krishna Ella, Chairman and Managing Director of Bharat Biotech.
"Bharat Biotech will strengthen its product portfolio and substantially increase product availability in response to the growing demand for this vaccine,” Ella said.According to a WHO report, rabies is a vaccine-preventable disease claiming the lives of over 55,000 people each year, mostly in Asia and Africa. India accounts for 36 percent of the world’s rabies deaths.The Great Diwali Discount!
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