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Actis, the global private equity firm, today announced its investment of Rs 295.97 crore ($48 million), for a significant stake in Anil Satwani, founded Indore-based Symbiotec Pharmalab.
Today Symbiotec is India’s leading steroid-hormone active ingredient producer, and the second largest player in Asia. With the largest number of US Food and Drug Administration (US FDA) approved Active Pharmaceutical Ingredient (API) plants in the world. In the past decade, Symbiotec has become a specialist producer of steroid-hormone APIs. The company manufactures more than 45 products in its two manufacturing facilities in Indore. These active ingredients are used by Symbiotec’s customers, which include both large multinationals as well as generic pharma companies, to manufacture high quality medications, including treatments for inflammation, asthma, dermatology, immune functions, and infertility. GSK Pharmaceuticals, Teva, Ranbaxy and Cipla are among Symbiotec's clients, as per industry sources.
JM Trivedi, partner and head of South Asia at Actis, said, “Symbiotec is the leading Indian manufacturer of steroids-hormone APIs, a specialised pharmaceutical segment. With its USFDA approved facilities and high quality products with Asian cost manufacturing advantages, it is on track to become a leading global player. We look forward to working with Anil Satwani and his team to build on Symbiotec’s success to date.”
IDFC Capital acted as exclusive adviser to Symbiotec on the deal.
