Injectables maker Maiva Pharma raises ₹1000 crore to set up new manufacturing unit

The money has acquired a controlling involvement with the superior infusion, making it Maiva Pharma’s archetypal backstage equity fundraise. Avendus acted arsenic the exclusive fiscal advisor to Maiva and its shareholders connected this transaction.

The institution besides aims to deploy the proceeds to heighten its capabilities successful sterile dosage forms including pre-filled syringes, bags, oncology and hormonal injectables, it said connected Thursday.

Maiva already has a works successful Hosur producing sterile injectables successful vials and lyophilized vials, with a portfolio of much than 75 products for Contract Development and Manufacturing Organization (CDMO) services, catering to implicit 40 customers crossed the US, Canada, Europe, Australia, and Latin American, it said successful a statement.

“This fundraise volition beryllium utilized to adhd much vial, lyophilization, and suspension capableness and present caller manufacturing capabilities specified arsenic prefilled syringes, cartridges and bags," said Bhaskar Krishna, managing manager and main enforcement astatine Maiva Pharma.

Set up successful 1993, Maiva Pharma focuses connected declaration manufacturing of sterile injectables for regulated markets.

Read More: Apollo Hospitals' limb to rise ₹2,475 crore from Advent International

Morgan Stanley Private Equity Asia is simply a starring backstage equity capitalist successful the Asia-Pacific region, managing third-party wealth funds and investing successful the portion for implicit 2 decades, chiefly done highly structured number investments and power buyouts successful the mid-market segment.

Private equity steadfast InvAscent manages assets worthy $650 cardinal crossed 4 funds, tailored for India’s tiny and mid-market companies crossed pharma, healthcare delivery, aesculapian devices, different allied sectors.

“We judge that the injectables CDMO marketplace is poised for beardown maturation and Maiva is good positioned to look arsenic 1 of the starring autarkic players supplying regulated markets. Under Bhaskar's leadership, Maiva has enactment successful spot gathering blocks for aboriginal maturation with a customer-centric approach, crisp R&D absorption and an accent connected maintaining precocious prime standards," said Nirav Mehta, managing manager and co-head astatine Morgan Stanley Private Equity Asia.

Also Read: IvyCap Ventures closes 3rd fund, raises ₹2,100 crore

Unlock a satellite of Benefits! From insightful newsletters to real-time banal tracking, breaking quality and a personalized newsfeed – it's each here, conscionable a click away! Login Now!

Published: 02 May 2024, 03:57 PM IST