Morgan Stanley, InvAscent invest Rs.1,000-Cr in CDMO Maiva Pharma for controlling stake

Maiva Pharma , a Benguluru-based pure play injectables Contract Development and Manufacturing Organization (CDMO) catering to the US market, has attracted INR 1,000 crore in primary and secondary funding from from Morgan Stanley Private Equity Asia and India Life Sciences Fund - IV (managed by InvAscent), in return for a combined over 60% stake.The primary proceeds will be used to set up a new manufacturing facility near Hosur with capabilities in sterile dosage forms, including pre-filled syringes, bags, oncology and hormonal injectables.Avendus acted as the exclusive financial advisor to Maiva and its shareholders on the deal.