M&A

M&A

US drug maker Viatris sells Indian API, women's health biz for $1.2-B

MoneyControl  

US-based Viatris (formerly Mylan Inc) has finalised twin deals in India to divest its API (active pharmaceutical ingredients) and women's healthcare businesses for a combined consideration of around USD 1.2 billion. Jefferies and law firm Saraf & Partners acted as advisors. It has executed an agreement to divest its API business in India to Iquest Enterprises, a Hyderabad based privately held pharmaceutical company. Iquest Enterprises is owned by Nimmagadda Prasad, the founder of Matrix Laboratories. The transaction includes three manufacturing sites and a R&D lab in Hyderabad, three manufacturing sites in Vizag and third-party API sales. Viatris will retain some selective R&D capabilities in API. The women's healthcare business, which primarily relates to oral and injectable contraceptives, has been sold to Insud Pharma, a Spanish multinational pharmaceutical company. The transaction includes two manufacturing facilities in India: one in Ahmedabad and one in Sarigam.