IQuest Enterprises has entered into a definitive agreement to acquire the active pharmaceutical ingredients (API) operations of Viatris in India.
Hyderabad-based IQuest emerged as the preferred investor following a global competitive bid. The said operations include a total of six large-scale API manufacturing facilities, three each in Visakhapatnam and Hyderabad, a R&D facility in Hyderabad, as well as third-party API sales.
While IQuest preferred not to disclose the deal size on record, Viatris Inc. said it entered into definitive agreements to divest its Women’s Healthcare business, its API business in India and commercialisation rights in certain non-core markets that were acquired as part of the Upjohn Transaction; the gross proceeds to the company from all divestitures under the terms of the agreements are up to $6.94 billion.
“We are excited about our largest investment in the pharmaceutical sector till date. Our investment comes at an opportune time when India is drawing significant attention amongst the global pharma industry. It is also a happy homecoming, in more ways than one, for some of us who have been part of the journey over the last two decades,’‘ Gunupati Swathi Reddy, Executive Director, IQuest Enterprises, said in a release.
IQuest Enterprises is a multi-sector investment company with a proven track record of pharmaceutical and healthcare investments. The investments include AIG Hospitals , CARE Hospitals and Celon Laboratories, among others.
Part of Matrix
A significant part of the team at IQuest Enterprises was involved with some of the current facilities when it was operating as part of Matrix Labs which was divested in 2006 to Mylan. Subsequently in 2020, Mylan was merged with another entity to be renamed as Viatris.
SHARE
Published on October 2, 2023
