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Arun Kumar, the reclusive promoter of Bangalore-based Strides Arcolab and SeQuent Scientific, on Monday wrapped up two deals with global pharmaceutical major Gilead Sciences. Gilead Sciences announced that it has signed non-exclusive licensing agreement with seven India-based generic pharmaceutical manufacturers to expand access to its chronic hepatitis c medicines in developing countries.
As part of this transaction, while SeQuent Scientific has clinched the deal to produce active pharmaceutical ingredients - sofosbuvir and ledipasvir, Strides Arcolab has signed licensing agreements for both API and finished products.
SeQuent Scientific said in a statement that they will receive a complete technology pack from Gilead to enable scale up production of the APIs as quickly as possible. The formulations using these APIs can be distributed in 91 developing countries, which account for more than 100 million people living with hepatitis C, globally representing 54 per cent of the total global infected population.
According to information available, SeQuent will be manufacturing the APIs at its US FDA approved plant in Mangalore, while Strides will be executing at its plant in Bangalore.
Arun Kumar, who during last year sold the specialties division - Agila - under Strides for a good $1.6 billion to Mylan, is focusing extensively on building the residual pharma and biologics business under Strides while aggresively growing SeQuent’s business especially the animal healthcare business under Alivira Animal Health.
After raising around Rs 125 crore through the private equity route from Ascent Capital, Alivira - which is a JV between Shasun Pharmaceuticals and SeQuent's subsidiary - during last week picked up 60 per cent stake in Turkey's Provet Veterinary Products for an undisclosed sum. SeQuent CEO Manish Gupta said that this acquisition provides them the right platform to aggressively expand their veterinary formulations business in Middle East, Africa and Central European regions.
“Acquisition fast tracks Alivira's vision to become formidable player in global veterinary business,” the company said, adding with the agreement, Alivira gets access to the $400-million Turkish veterinary market.
