Growth hormone

Mankind Pharma, beyond seductive ads and investor multiples

Regardless of whether Mankind values itself at more than $4 billion or private equity pins it down below, the fastest growing pharma company is ready to reinvent itself

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If the morning newspaper headline rattled the Juneja family, Rajeev Juneja didn’t show it. India’s fastest growing pharma company was in talks to sell 25% stakes, reported the largest English daily on 31 October, setting the cat among the (investor) pigeons. “It’s exaggerated, it doesn’t make sense,” said the chief executive and the younger of the two co-founding Juneja brothers of Mankind Pharma.

The family will offload some equity but in low single-digit percentage. The $3 billion valuation figure quoted in the newspaper doesn’t cut much ice home, and the family is in no…

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