Healthcare & Life Sciences
Global PE Fund PAG-led Pharma API Platform acquires controlling stake in Anjan Drug
About
Anjan Drug Private Limited
Anjan Drug, established in 1990, manufactures APIs for CNS disorders such as anxiety, depression, epilepsy, schizophrenia, among others. Major products manufactured by Company include Valproic Acid, Sodium Valporate, Divalproic Sodium, Gabapentin & Magnesium Valporate with exports constituting over 80% of sales. The Company plans to launch at least 5 more products over the next 2 years across US, Latin America & Europe. Besides USFDA, the facilities are also inspected by EDQM, TGA, COFEPRIS and WHO GMP. Anjan enjoys a long standing relationship with its key clientele with a vintage of > 10 years with each of them.
PAG
PAG is one of Asia’s leading investment firms. The firm manages US$38 billion in capital across strategies including private equity, real estate, and absolute returns strategies and has a team of 450 people across 11 offices across the region and worldwide. Healthcare is one of PAG’s focus sectors, with multiple investment spanning biosimilars, generics focused on therapy areas like CNS
CX Partners
CX Partners is a leading Indian mid-market Private Equity fund, investing in companies operating in the healthcare, financial services, consumer products, outsourced services, and niche manufacturing sectors. The leadership team at CX has been investing in Indian market businesses since the mid-1990s, and were a part of Citi Venture Capital, before founding CX. Pharmaceutical and Healthcare is a key investment segment for CX, where the team has invested in leading generic pharmaceutical companies, diagnostics, medical devices, and clinical research businesses in India and created significant value.
Samara Capital
Samara Capital is a mid market private equity firm with investments of more than USD$ 1.5 billion across consumer, healthcare and pharmaceutical, technology and financial services in India. The fund has been very active on the healthcare and pharmaceutical sector with investments in diagnostics, medical consumables and devices, hospitals and domestic formulations
Background
We are pleased to announce that Gamot API Pte Ltd (“Gamot”), a pharma API platform sponsored by Global PE fund PAG along with home-grown PE funds CX Partners & Samara Capital has made its first investment in the platform by acquiring a controlling stake in Chennai based Anjan Drug Private Limited (“Anjan”)
Anjan founded by Mr. C. Kalaichelvan, is a global leader in the Valproates & value-added salts within the CNS Segment and enjoys long standing client relationships across The Americas & Europe including global leaders like Abbot, Sanofi-Aventis, Teva, and Apotex. The Company is known for its class leading quality products with green chemistry capabilities and process efficiencies which have delivered consistent growth and superior margins.
The investment by Gamot is the first step towards consortium’s strategy to create a best-in-class bulk drug ingredients platform with high quality, diversified portfolio of products with a solid client base and a broad range of technical expertise.
Veda Corporate Advisors (“VedaCorp”) was the exclusive financial advisor to the promoters & the Company. This is one of the first deals to be consummated in the fast-evolving pharma API platform strategy in India. This also marks VedaCorp’s second deal for Anjan, 2nd deal in the last quarter and 33rd deal overall in the Healthcare & life sciences space thereby reaffirming VedaCorp as a go-to healthcare/life sciences banker across economic cycles. VedaCorp provided comprehensive transaction advisory services including identification of prospective investors, strategic positioning, deal structuring and negotiation of key commercial terms, leading to the successful closure of the transaction.
“VedaCorp team has excelled once again! Kudos to the team which have focussed their attention to every little detail of the transaction and have worked to complete the assignment in record time in the prevailing circumstances. Being a boutique investment bank, their reach, insight & depth can be used in all business fora”
C Kalaichelvan
Promoter, Anjan Drug Private Limited
“Anjan is one of the most respected companies in the API space for its quality standards, marquee client profile, market leadership, corporate governance, process & capital efficiency. After Series A investor InvAscent successfully exited in 2018, this alliance now with Gamot API platform is expected to be mutually benefitting – Anjan achieving a faster scaleup with access to new clients & molecules and Gamot digging into the technical expertise of Mr. Kalaichelvan for its other constituents of the platform”
Sivaraj Sekhar
Senior Director, Veda Corporate Advisors