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Torrent Pharmaceuticals, a generic drug maker, is about to accumulate dermatology startup Curatio Healthcare for $245 million, The Economic Times reported on Tuesday.
The deal, which is predicted to shut in October, will put Torrent among the many prime ten largest dermatology corporations in India, based on a press launch put out by the corporate.
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“The acquisition offers Torrent the opportunity to enhance its presence in dermatology with a differentiated portfolio and is a strong strategic fit,” stated Torrent govt director Aman Mehta. “Curatio has built a commendable set of high market share brands in cosmetic and pediatric dermatology that we look forward to adding to our product offerings.”
ChrysCapital and Sequoia Capital, which maintain a 20% and 33% stake respectively in Curatio, will exit the corporate.
Curatio Healthcare boasts about 50 dermatology manufacturers in its portfolio marketed in the direction of the hair, scalp and face, in addition to a line dedicated to younger youngsters and delicate pores and skin. The 17-year-old firm has a slew of medicated physique washes and hair merchandise in addition to off-the-shelf manufacturers.
Rise of hair and pores and skin merchandise in India
Cosmetic dermatology, like treating zits, brittle hair and wrinkles, has been on the rise in India. The non-public markets noticed over $111 billion in enterprise funding in 2021, a 281% leap from the yr prior, based on Crunchbase information. Though funding has died down in 2022, thus far startups within the house have seen greater than $36 million in funding, a large improve from years previous to 2021.
One of them, Clinikally, was based in 2021 and acquired $600 thousand from the likes of Y Combinator. The dermatology-focused telehealth firm that gives same-day prescription supply is utilizing synthetic intelligence to construct a repository of pores and skin sorts and hair sorts to doubtlessly automate prescription therapies sooner or later.Another, Traya Health, raised $2.2 million in seed funding in January to focus on hair loss by way of a mix of Ayurvedic medication, diet and allopathy.
Illustration: Li-Anne Dias
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