Global private equity major Carlyle on Tuesday said it has set up a generic pharmaceutical platform in the country by partnering with Viyash Life Sciences.
CA Hull Investments, an affiliated entity of CAP V Mauritius and Carlyle, and Viyash, have set up the platform, an official statement said, without giving any details of any investments.
Viyash was set up by Hari Babu in partnership with Srihari Raju Kalidindi, and is a manufacturer of API (active pharmaceutical ingredients) intermediates, it said.
Carlyle had first partnered with Viyash in June this year, during the latter's acquisition of majority stake in Symed Labs, a leading manufacturer of niche APIs to enable backward integration.
Viyash has also acquired a controlling stake in Appco Pharma LLC, a formulations player focused on the US market which will help expand access to US generics market and formulation capabilities, the statement said.
The company now has ten manufacturing facilities in India with a combined capacity of 2,000 KL as well as one formulation facility in US.
Carlyle's co-head for Asia Healthcare and India, Neeraj Bharadwaj said, there continues to be significant potential in the generics market which can be captured through targeted consolidation of complementary players in the generics industry.
Carlyle has invested USD 14.7 billion in healthcare globally, and its local bets include SeQuent Scientific, Piramal Pharma, Indegene, Metropolis, Medanta and Visionary RCM Infotech.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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