Private equity fund PAG is picking up a controlling stake in active pharmaceutical ingredient (API) maker Anjan Drug for over USD 70 million. The Asia-focused PE firm said it is partnering with CX Partners and Samara Capital to pick a controlling stake in the Chennai-based Anjan Drug. Anjan is a leading supplier of active drug ingredients in the central nervous system therapy segment to some of the world’s largest pharmaceutical companies, in markets including the US, Canada, Brazil and Europe, according to a press statement issued by PAG. The acquisition is part of the PAG-led consortium’s strategy to create a best-in-class platform for the development and production of bulk drug ingredients, it said.

(Business Standard)