On Tuesday (27th Sept) Torrent Pharmaceuticals Ltd has announced , they are going to buy the dermatology company Curatio Health Care Pvt Ltd for ₹2,000 crore.
This acquisition will help Torrent Pharma to increase a Field Force of 600 MRs and a distribution network of 900 stockiest.
In the regulatory filing, Torrent Pharma said, they are now entered into definitive agreements to acquire 100% stake of Curatio Healthcare for Rs. 2,000 crores.
Curatio has a strong presense in the cosmetic dermatology segment.
There are more than 50 brands in their portfolio, marketed in India.
Compan’s leading brands are Tedibar, Atogla, Spoo, B4 Nappi, and Permite, which are ranked amongst top 5 brands in their covered market.
Curatio Revenue and Market Presense
Top ten brands of Curatio generates around 75% of its total revenue.
For financial year FY2022 , Curatio’s revenue came at ₹224 crore.
Its is expected that With YTD August sales up 25%, Curatio will cross ₹275 crore revenue in FY23.
Dermatology accounts for 82% of Curatio’s revenue. Within dermatology, cosmetic dermatology is a leading contributor.
From last 10 years, cosmetic dermatology as a therapy has delivered an 18% CAGR which is 1.6x of the IPM CAGR.
This deal will help Torrent Pharma to be listed in top 10 players in the dermatology segment and it will be the leader in the cosmetic dermatology sector.
Aman Mehta the director of Torrent Pharma said, with this acquisition “We are delighted, The acquisition offers us the opportunity to enhance its presence in dermatology with a differentiated portfolio and is a strong strategic fit.
Curatio has strong presense inn set of high market share brands in cosmetic and pediatric dermatology that we look forward to adding to our product offerings.”
Top fund Sequoia, ChrysCapital and the Promotors of Curatio commented, “Over the last fifteen years, Curatio has built a strong portfolio of differen products in the derma segment, those are very well accepted by doctors and patients.
We believe Torrent is best suited to further grow the business which we have built.”