Healthcare & Life Sciences
VedaCorp advises Symed on sale to Carlyle owned Generics Platform
About
Symed
Symed Labs Limited was established in 1997 and is a leading API manufacturer focussing on niche molecules across therapy segments. It operates five plants and an R&D unit, all located around Hyderabad, of which four units have been inspected by USFDA. Besides USFDA, the facilities are also inspected by WHO (Geneva), COFEPRIS (Mexico), MMFDS (Korea), MHLW (Japan), NIP (Hungary) and WHO GMP (DCGI).
Viyash
Viyash was founded in 2019 by Dr. Hari Babu, a former managing director and head of India operations of Mylan Pharmaceuticals and Dr. Srihari Raju Kalidindi, a former executive director at Laurus Labs. The company manufactures API’s and is backed by The Carlyle Group for establishing a generic pharma platform for acquiring and consolidating pharma assets.
The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Real Assets, Global Credit and Global Investment Solutions. The Carlyle Group employs more than 1,800 people in 26 offices across five continents with US $293 billion of assets under management as of Sep’21.
Background
We are pleased to announce that controlling stake in our client Symed Labs Limited (“Symed”) has been acquired by Viyash Life Sciences Private Limited (“Viyash”), a generic pharma platform promoted by Dr. Hari Babu & Dr. Srihari Raju Kalidindi and backed by global PE fund Carlyle, culminating into one of the largest pharma platform transactions in the API space.
Established in 1997, Symed is a leading API manufacturer and trend setter focussing on niche products across therapy segments such as anti-bacterial, antihistamine, anti-inflammatory, anti-psychotic, anti-convulsant, etc.
Veda Corporate Advisors (“VedaCorp”) was the exclusive financial advisor to the Promoters and Symed.
This marks VedaCorp’s 40th transaction in Healthcare & Life Sciences space and second platform-backed pharma API transaction in the last 12 months.
“Right from the start of the mandate, the team at VedaCorp was clear on the approach for the transaction. They were able to understand our requirements of a deal and shortlisted the right partners with whom we could transition the business while also managing the commercial requirements of all parties. Their understanding of the Pharma API space and ability to think of possible issues and solutions helped in navigating the transaction even in these difficult COVID times. Kudos to them!”
Dr. Mohan Rao
Managing Director, Symed
“Symed is one of the largest standalone vertically integrated API companies in the country. It has built capabilities in diverse therapies and supplies to 600+ pharma companies in over 30 countries including some of the largest in the world. It is a clear market leader in novel molecules backed by high quality manufacturing standards. The aggregation of Symed in Carlyle-backed Viyash platfrom will be mutually benefitting to the platform bringing immediate scale and process capabilities to a proven leadership with marque investor”
Sivaraj Sekhar & S Ganapathiraman
Senior Director & Director, Veda Corporate Advisors