IQuest Enterprises, a multi-sector investment firm, on Monday stated it has entered right into a definitive settlement to acquire the API (lively pharmaceutical ingredient) operations of worldwide pharmaceutical major Viatris in India.
A press launch from IQuest stated it emerged as the popular investor following a worldwide aggressive bid.
The stated operations embrace a complete of six large-scale API manufacturing amenities, three every in Visakhapatnam and Hyderabad, a Research and Development facility right here, in addition to third-party API gross sales.
A big a part of the group at IQuest Enterprises was concerned with a number of the current amenities when it was working as a part of Matrix Labs, which was divested in 2006 to Mylan.
Subsequently, in 2020, Mylan was merged with one other entity to be renamed as Viatris.
This acquisition will even mark the return of Nimmagadda Prasad to the pharma trade after a 17-year hiatus.
Prasad has been a serial entrepreneur having developed vital companies (Matrix Laboratorties and CARE Hospitals) to scale and creating enhanced shareholder worth.
Commenting on the event, Gunupati Swathi Reddy, Executive Director, IQuest Enterprises stated, “We are excited about our largest investment in the pharmaceutical sector till date. Our investment comes at an opportune time when India is drawing significant attention amongst the global pharma industry. It is also a happy homecoming, in more ways than one, for some of us who have been part of the journey over the last two decades.”
