Leading Pharmaceutical Gland Pharma Acquired by KKR
December 6, 2013 Leave a comment
Gland Pharma Limited, one of the leading pharmaceutical companies in India, announced today they had reached an agreement under which KKR will acquire a minority stake in the company. This stake will be for approximately $200 million US dollars. KKR’s acquisition of the stake will be held by Evolvence India Life Sciences Fund, which is an existing private equity investor in Gland Pharma.
KKR (Kohlberg Kravis Roberts) is a private equity company run by CEOs Henry R Kravis and George R Roberts. KKR’s investment in Gland Pharma is the fourth announced investment from the KKR Asian II Fund.
Gland Pharma was established in 1978 and is based in Hyderabad. The research-focused company develops niche products such as generic injectables for the global pharmaceutical markets, mainly being the United States and India. Their products are used to help Osteoarthritis, Gynaecology, Anti-coagulants and Ophthalmology. Gland Pharma was the first company in India to get US Food and Drug Administration (FDA) approval for their pharmaceutical liquid injectable products.
“Gland Pharma is at an important juncture in its evolution where we have proven our sterile manufacturing capabilities, established ourselves as a high-quality manufacturer of complicated injectables products and achieved a track-record of strong financial performance. Our partnership with KKR will help us in our next phase of growth as we look to materially expand our manufacturing capacities and invest more in our development work with the goal of expanding our product registrations.” P V N Raju also said, “We thank the Vetter family of Ravensburg, Germany, who are investors in Gland Pharma, for inspiring Gland Pharma in the niche field of pre-filled syringes. Vetter Pharma, owned by the Vetter family, enjoys a pre-eminent position globally in the field of pre-filled syringe technology.”
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