TTK Healthcare to hive-off pharma business to advent-backed BSV for Rs805cr; stock trades lower

22 Mar 2022 , 12:43 PM

TTK Healthcare Ltd. informed the investors and exchanges that the company’s Board has approved the sale of its pharma division to Mumbai-based BSV. The consideration for the said transaction is agreed at Rs805 crore out of which 74% will be paid in cash and 26% will be settled by way of allotment of equity shares for the business acquired.

TTK’s top brands include Lactare (galactagogue), Ossopan (calcium supplements), some infertility brands such as Evaserve, CCQ, and Carni Q, and respiratory brand Levokast.

The company further stated that the sale is expected to be completed within 120 days from March 21, subject to shareholders’ approval.

The human pharma sales division of TTK Healthcare recorded sales of Rs160 crore in FY21.

TTK’s Portfolio of products is complementary to BSV’s portfolio as it is centralized on infertility and gynecology.

Post this development, TTK Healthcare was trading at Rs863.85 down by Rs8.2 or 0.94% from its previous closing of Rs872.05 on the BSE. It has touched day’s high and low of Rs879 and Rs844 respectively.