Khaitan & Co advised Mankind Pharma Limited in relation to the acquisition of the formulations brands from Panacea Biotec Pharma Limited.
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HEADINGS
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DETAILS
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| 1. |
Sector
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Pharmaceuticals |
| 2. |
Announcement Date |
28-Feb-2022 |
| 3. |
Completion Date |
28-Feb-2021 |
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Name of Client |
Mankind Pharma Limited |
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Buyer Details |
Mankind Pharma LImited | India
Mankind Pharma is one of the Indian leading pharmaceutical companies and changes the pharma industry by providing world class medications at affordable prices. The company has products in therapeutic areas ranging from antibiotics to gastrointestinal
cardiovascular, dermal and erectile dysfunction medications. |
| 6. |
Deal Description |
Advised Mankind Pharma Limited in relation to the the acquisition of the formulations brands from Panacea Biotec Pharma Limited (a wholly owned subsidiary of Panacea Biotec Limited), a company which has created a niche in the chronic and transplant business for a total consideration of INR 1872 crore (USD 250 million). The deal structure included an asset purchase agreement for the acquisition of certain assets, including the sales and marketing teams of Panacea as well as a contract manufacturing arrangement between the companies. In addition to this Mankind and Panacea also signed an trademark and copyright assignment and patent licensing agreement to authorise Mankind to use intellectual property associated with the formulations brands. |
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Total Consideration |
INR 1872 crore (USD 250 million) |
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Team Members |
The core team consisted of Bharat Anand (Partner), Pashupati Nath (Partner), Kevin Peter (Principal Associate), Yashodhara Chauhan (Associate) with assistance from the following:
Members of the supporting team advised on the asset purchase structuring, acquisition of intellectual property as well as certain employment related aspects: Ankur Sangal (Partner), Vinay Joy (Partner), Srishti Ramkrishnan (Principal Associate), Abhiroop De (Senior Associate), Ananya Bhat (Senior Associate), Ankit Arvind (Senior Associate) |
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Role of Firm |
Khaitan & Co advised on the transaction structuring as well as drafting, negotiation and finalisation of the transaction documents, including the asset purchase agreement, contract manufacturing agreement, transitional services agreement, intellectual property assignment agreement and patent licensing agreement. |
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