/ -- The partnership will accelerate Caplin Steriles' efforts to cater to the rapidly growing demand for injectable pharmaceutical products in the regulated markets, especially the US and Europe Eight Roads and F-Prime Capital together bring access to a powerful investment platform spanning Asia, Europe and the US Caplin Point Laboratories Limited (Caplin Point), one of the fastest growing pharmaceutical companies in India, today announced an investment in its injectables subsidiary, Caplin Steriles, by Eight Roads Ventures, the proprietary investment arm of FIL, Fidelity International Limited and its US-based sister fund, F-Prime Capital.
Caplin Point was founded in 1990 by C.C. Paarthipan. Since then, it has grown to become a leading provider of affordable, high-quality pharmaceutical formulations in several emerging markets including Latin America and Africa, with over 2700 product registrations globally.
Caplin Steriles, its subsidiary, will cater to the rapidly growing demand for injectable products in the regulated markets, especially the US and Europe. The $10bn US generic injectables segment continues to be very attractive, driven by high barriers to entry on product development as well as regulatory compliance in manufacturing such sterile products. This has resulted in relatively lower competition and constrained online capacity in this segment. Caplin Steriles has established a 550-person business with state-of-the-art R&D facilities in Chennai and high-quality manufacturing infrastructure that is approved both by the US FDA and European regulatory authorities. The subsidiary has already filed 8 ANDAs on its own and through partners with the US FDA, with 2 approvals.
Commenting on the transaction, C.C. Paarthipan, Chairman, Caplin Point Laboratories Limited, said: "We are at a stage in our regulated markets journey where we believe that the business is now well positioned to evolve and thrive as a separate entity. We are expanding capacities to cater to growing demand from these regulated markets for sterile products, and working on development of complex generic injectable products in-house. Both these efforts will unlock great value in the long run. We are excited to extend our journey from a road less travelled (South America) to a road well-travelled (North America) with Eight Roads Ventures and F-Prime Capital as investment and knowledge partners, given their excellent track record worldwide and particularly in healthcare."
Dr. Prem Pavoor, Partner at Eight Roads Ventures India, added: "This is a unique opportunity for us to partner with Caplin Point to build a world-class platform in India to develop and manufacture injectable drugs. Over 70% of generic drug shortages in the US continue to be attributable to injectables. Through our combined experience and resources, we aspire to create a leader in this segment, providing affordable, differentiated products for patients."
About Caplin Point Laboratories Ltd
Caplin Point Laboratories Limited is a niche pharmaceutical company with a unique business model catering predominantly to the emerging markets of Latin America and Africa. Caplin Point has state-of-the-art manufacturing facilities for a complete range of finished dosage forms. The company's subsidiary has also entered the regulated markets such as the US through its injectable and Ophthalmics facility that is approved by the US FDA and EU-GMP. Caplin Point has been selected on Forbes Asia's '200 Best Under a Billion' list for three consecutive years (2014, 2015 & 2016), and was recently awarded 'The Emerging Company of 2018' by the Economic Times Family Business Awards.
http://www.caplinpoint.net
About Eight Roads Ventures
Eight Roads is the proprietary investment arm of FIL, Fidelity International Limited. Eight Roads Ventures invests in high-quality, high-growth companies in Asia, Europe and the US, with a focus on healthcare, technology and consumer products. Eight Roads Ventures is committed to making the companies it invests in leaders in their industries through access to patient capital, a powerful network of resources and a team of investment professionals with a proven track record of success. Eight Roads' healthcare investments in India and Southeast Asia include Carestack, Cipla Health, Core Diagnostics, Eywa Pharma, Laurus Labs, Medwell Ventures, Pharmeasy, Plasmagen Biosciences, Richcore Lifesciences and Trivitron Healthcare.
eightroads.com
@8roadsventures
About F-Prime Capital Partners
F-Prime Capital Partners is a global venture capital firm investing in life sciences, healthcare, and technology. Since 1969, F-Prime has worked closely with entrepreneurs and academics to create innovative solutions to some of the world's most significant challenges in healthcare and technology.
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