Hilleman Laboratories will invest around Rs 300 crore in the next four to five years to develop low-cost vaccines to treat diseases like cholera and meningitis. The company is a 50:50 joint venture between MSD Pharmaceuticals and UK-based Wellcome Trust. The company is developing a synthetic vaccine to fight meningitis in Asian, African and Latin American countries.
Recipharm of Sweden is acquiring a majority stake in Karnal-based, Nitin Lifesciences, a sterile injectable company for Rs 670 crore on a cash and debt free basis. Recipharm will join forces with the founding and managing owners, the Sobti family, in order to further grow the current business with demanding domestic and multinational customers into a leading position in the Indian sterile CDMO market. EY India acted as the sole M&A advisor to the deal.
Attune Technologies Pvt. Ltd, a Chennai-based healthcare technology company, has raised $10 million in Series B funding from Qualcomm Ventures and Norwest Venture Partners to expand its digital healthcare solutions footprint in the domestic and international market. The new funds will be use to expand its healthcare solutions from the current 200 hospitals, laboratories and clinics to 25,000 such facilities globally within the next three years.
The company’s platform interfaces with over 1,100 devices such as lab analyzers and ICU machines to absorb labs into a health network.
Bengaluru based Strides Arcolab, an Indian drug manufacturer, has expanded its portfolio of offerings by acquiring brands from two companies in separate transactions. Strides signed a deal with Johnson & Johnson to buy seven of its brands in the dermatology, antiemetic and pain management segments. The portfolio acquired from J&J includes Otogesic eardrops, Ehnorub ointment and Stugil tablets. In a separate transaction, Strides will acquire a majority stake in the domestic branded businesses of Medispan, part of the Chennai-based Shriram Group, with a presence in probiotic, nutritional, anti-infective and gastrointestinal drugs. The brands that Strides will gain from Medispan include Lactovit and Lactogut. The deal value of the transaction was not disclosed.
Pharma firm Kilitch Drugs India has formed a joint venture in Ethiopia with a local partner there to set up a manufacturing plant in the African country. The name of the Ethopian partner was not disclosed. Kilitch Drugs India shall be a partner to the tune of 97% and the Ethiopian partner shall hold remaining 3% in the said joint venture.