PE Fund Investments
PAG to pick minority stake in US-headquartered RK Pharma: report
Hong Kong-headquartered investment firm PAG (formerly Pacific Alliance Group) - led by its India focused team - is to acquire a significant minority stake in Pearl River, NY (USA)-based RK Pharma Inc and its subsidiaries. Citadel Management and EY were the advisors to the transaction. US-based Signet Healthcare Partners is exiting as part of this deal. Besides secondary shares sales, the transaction includes primary funding that will aid the company expand business. PAG has the option of increasing its stake at a later stage. Founded in 2018 by Ravishanker Kovi, RK Pharma makes injectables, sterile ophthalmic and dermal products, and has operations in India and the US. It has two subsidiaries Apicore India and Aktinos Pharma. Apicore provides research and development services and has an API manufacturing facility in Andhra Pradesh and Gujarat. RK Pharma also has an injectables manufacturing facility in New York.
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