ChrysCapital, the $2.5 billion Delhi-based private equity major, has earned returns of nearly $400 million from its bets in the pharmaceutical space in the last one year. In the latest deal, the firm has completed its exit from Mankind Pharma, selling its 11% stake for $200 million to Capital International Private Equity Fund in a secondary deal. The deal values the 20-year-old company, which makes both prescription and over the counter drugs, at over $1.8 billion or Rs 12,000 crore.
TAKE Solutions Ltd, Chennai-based Technology Company with interest in in life sciences, has entered into definitive agreements to acquire life sciences services player, Ecron Acunova (EA)for Rs 115 crore deal. The deal would help TAKE move the addressable market for its services to $30 billion and will enhance company’s presence in Europe and Nordic countries. With this acquisition, TAKE will add audit ready infrastructure in Europe and India, and parts of South Asia to its expanding footprint.
Ecron Acunova is a life sciences services company delivering pharmaceutical research services to global clients across South East Asia, Central & Nordic Europe and North America.
Piramal Enterprises’ consumer products division has acquired the baby-care brand ‘Little’s’, which includes the entire product range across six categories. Launched in India in 1980, Little’s is present across a wide range of products including – baby feeding bottles, baby skin-care, baby grooming accessories, baby apparels and baby toys. The acquisition of Little is in line with Piramal’s strategy to be a top 3 player in OTC market.
Medinfi Healthcare Pvt. Limited had raised Rs.2 crore from individual investors and entrepreneurs. The investors include Ram Kumar Kakani, professor at management institute XLRI, Pradeep K. Jaisingh, chairman, Healthstart; Sunil T V, co-founder, IVFA; Vijay Ghadge, COO, Gojavas, Hemant Kaul , ex-CEO & MD of Bajaj Allianz General Insurance and Gurmeet Chahal, senior vice-president and head of healthcare at HCL Technologies Ltd, among others. The company intends to use the funds for launching mobile application for iPhone users, apart from expanding its operations to 10 Indian cities over the next three months.
Started in July this year, Medinfi provides an Android app to help users locate the nearest doctors and hospitals for their everyday check-ups
Top pharmaceutical companies from India, including Cipla, Glenmark Pharmaceuticals and Sun Pharmaceutical Industries, are exploring bids for a drug portfolio of the world’s largest generic player, Teva Pharmaceutical Industries. The portfolio on sale includes 35 generic products in the US market, including oral solids, capsules, soft gels and hormones. Second round bids are due this week and the sale could fetch $500-800 million.
Teva has put its portfolio on the block following its $40.5-billion acquisition of Allergan’s generic drug business in July. Teva, which is headquartered in Jerusalem, is required to sell its portfolio of overlapping drug products in order to secure antitrust approval for the deal.