Private Equity Fund Investments
PAG acquires controlling stake in CRO Acme Formulation for $145-M
PAG, an Asia-focused private equity firm, has acquired a controlling stake in Solan, Himachal Pradesh-based Acme Formulation Pvt Ltd, a contract development and manufacturing outsourcing (CDMO) company with a focus on complex pharmaceutical products, for USD 145 million (INR 1,054 crore). Founded in 2005 by Viral Shah, Acme provides contract development and manufacturing services to Indian and global pharmaceutical companies. The firm focuses on sterile injectables, hormones, and other complex oral solid formulations. Shah will retain a significant minority stake in the company and continue as MD and CEO.
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