Carlyle to invest in pharma firm Viyash

Hyderabad-based Viyash Life Sciences is to raise funding from US-headquartered PE investor Carlyle Group to set up a generic pharmaceutical platform. Citadel Management Consulting, a Hyderabad-based advisory firm, acted as an advisor to Carlyle. The investment is routed through CA Hull Investments, an affiliated entity of Carlyle unit, CAP V Mauritius Limited. Viyash Viyash is co-founded by Dr. Hari Babu (previously Global COO of Mylan) and Dr. Srihari Raju Kalidindi (previously ED of Laurus Labs). It is a manufacturer of API (active pharmaceutical ingredients) intermediates. Carlyle had first partnered with Viyash in June 2021, during the latter's acquisition of a majority stake in Symed Labs, a manufacturer of niche APIs. Viyash has also acquired a controlling stake in Appco Pharma LLC, a formulations player focused on the US market, which will help expand access to US generics market and formulation capabilities.