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Carlyle partners with Viyash Life Sciences to build generic pharmaceutical platform in India

MUMBAI :

Global investment firm Carlyle and pharmaceutical professionals Dr Hari Babu and Dr Srihari Raju Kalidindi, founder and co-founder of Viyash Life Sciences Pvt Ltd on Tuesday said that CA Hull Investments, an affiliated entity of Carlyle and Viyash have established an integrated generic pharmaceutical platform in India.

Viyash was set-up by Dr. Hari Babu in partnership with Dr. Srihari Raju Kalidindi. Viyash is a  manufacturer of API (active pharmaceutical ingredients) intermediates with a strategy to consolidate other pharma intermediates, API and formulation assets to create an integrated offering for large generics customers. Babu was previously Global COO of multinational pharmaceutical company Mylan and CEO of Mylan India, while Kalidindi co-founded and was previously the Executive Director of Indian pharmaceutical company Laurus Laboratories.

Carlyle commenced its partnership with Viyash in June 2021, when the company acquired a controlling stake in Symed Labs, a leading manufacturer of niche APIs to enable backward integration. Viyash has also acquired a controlling stake in Appco Pharma LLC, US, a formulations player focused on the US market which will help expand access to US generics market and formulation capabilities.

With these acquisitions, Viyash has ten manufacturing facilities in India as well as one formulation facility in the US. The majority of the sites are US FDA approved for API or Intermediates and are capable of servicing both regulated and semi-regulated markets. In the future Viyash intends to seek further investment opportunities to build scale by targeting acquisitions with niche differentiated capabilities that complement the existing operations of the platform. It will focus on both regulated and emerging markets for generics supply.

Neeraj Bharadwaj, Co-head – Asia Healthcare and India, Carlyle Asia Partners, said, “As the largest provider of generics in the world, India has solidified its position as a pharma hub. There continues to be significant potential in the market which we believe can be captured through targeted consolidation of complementary players in the generics industry.”

Dr. Babu, CEO, Viyash platform said, “Viyash will focus on providing global formulation players with end to end manufacturing capabilities. Our next phase will be to drive further integration and growth opportunities across the three businesses.”

Carlyle has a strong track record of investing in the healthcare sector, both in India and globally. Carlyle has invested more than $14.7 billion of equity in over 80 deals in the global healthcare sector as of 30 September 2021. Its healthcare investments in India include SeQuent Scientific, Piramal Pharma, Indegene, Metropolis, Medanta and Visionary RCM Infotech.

Citadel Management Consuting, a Hyderabad based advisory firm acted as an advisor to Carlyle.

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