Vaccine manufacturer Bharat Biotech will be acquiring 100% equity stake in Chiron Behring Vaccines in an all-cash transaction from GlaxoSmithKline Asia for an undisclosed sum in the coming weeks.
Vaccine manufacturer Bharat Biotech will be acquiring 100% equity stake in Chiron Behring Vaccines in an all-cash transaction from GlaxoSmithKline Asia for an undisclosed sum in the coming weeks. Refusing to share the financial details of the deal, the company said that it would recover the investment in the next five years. The company hopes to become the world’s largest rabies vaccine manufacturer in the next few years having an annual capacity of 25 million doses.
Chiron Behring is a WHO pre-qualified manufacturer of rabies vaccines, eligible for supplies to United Nations agencies and has product registrations in over 20 countries. Chiron Behring Vaccines was formed as a result of the purchase of the vaccines business of Hoechst by Chiron Corporation USA. It is one of the largest manufacturers of high quality rabies vaccines in the world.
The rabies vaccine manufactured at Ankleshwar is a result of decades of research and product development. Bharat Biotech has a wide portfolio of vaccines, with market access to more than 70 countries. The acquisition will establish Bharat Biotech as a global leader in rabies vaccines manufacturing. Bharat Biotech plans to enhance upon the manufacturing capabilities at Chiron Behring Vaccines and expand market access through product registrations in additional high demand countries.
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“This acquisition is strategic in helping us enhance our opportunities to achieve greater scale in tackling public health problems. Bharat Biotech will strengthen its product portfolio and substantially increase product availability in response to the growing demand for this vaccine,” Dr Krishna Ella, CMD, said. Bharat Biotech, a privately-held company, has a portfolio of 16 products, including JE and typhoid vaccine, and has invested Rs 1,500 crore in manufacturing and R&D facilities.
According to WHO report, rabies is a vaccine-preventable disease, claiming lives of over 55,000 people each year, mostly in Asia and Africa. India accounts for 36% of the world’s rabies deaths. The acquisition of Chiron Behring would make his company the largest producer of anti-rabies vaccine in the world. Bharat Biotech currently produces 10 million doses of the anti-rabies vaccine a year and the acquisition would take the total annual capacity under their command to 25 million doses.
Date: February 25, 2019
Source: Financial Express
