Global PE funds in talks to buy 15% stake in Covid-19 drug maker BDR Pharma for Rs.1,200-Cr

Several global private equity funds, including the Carlyle Group, Warburg Pincus and TA Associates, are in talks to acquire a minority stake in Mumbai-based BDR Pharmaceuticals, a mid-size drug manufacturer. Promoters Dharmesh Shah and family plan to sell about 15% stake in the privately held company for INR 1,000-1,200 crore. In this first round of investment, BDR is likely to be valued at INR 7,000-7,500 crore. Investment bank O3 Capital is advising the promoters. BDR sells favipiravir under its brand name BDFAVI, besides manufacturing the drug for Sun Pharmaceuticals and Indoco Remedies.