India Based Injectables Company Attracts Multiple Global Deals
Hyderabad based Gland Pharmaceuticals Ltd is attracting investors and buyers from all over the world. Global buyout firm Advent International and US based Baxter International are ready with their deals to invest in Gland Pharma Ltd.
Indian drug maker Torrent Pharmaceuticals is expected to be binding bids by the middle of the next month. KKR (an American investment firm) invested in Gland Pharmaceuticals for the first time in 2013 with an amount of about $200 million. This investment was the largest private equity of the time with the company valued at about $600 million. Gland Pharma founders and KKR own about 99% of the company. Both are selling their combined stake in this deal that is valued at between $1 billion and $1.5 billion.
Established in 1978, Gland Pharma is a globally renowned manufacturer company of Small Volume Parenterals (SVPs) with presence in about 90 countries in five continents. It was the first company to set up a state-of-the-art Pre-Filled Syringes (PFS) facility in India and having credit of first company to get acceptance by US FDA for liquid injectable facility in India. A world leaders in Glycosaminoglycans (GAGs) range of molecules, Gland Pharma is known for their pioneer Heparin technology in India. The injectables business of Gland Pharma is certainly a lucrative opportunity for investors.
Other giant market players are also investing in this potential market. Pfizer acquired US firm Hospira for $17 billion last year partly to develop its injectable drug business. Mylan NV paid $1.6 billion in 2013 to buy the injectables drug unit of India’s Strides Arcolabs.
Featured Image credit: doses of medicine in glass viles © vitae (BigStock Photo ID: 7893923)
Center image credit: Gland Pharma Ltd. official website