Everstone Capital agreed to invest close to US$270m in Apothecon Group, an Indian and US specialty generics company, in exchange for a substantial stake, the firm said on 14 April.
Why Everstone Capital is buying Apothecon Group (Apothecon Pharmaceuticals and Navinta)
Everstone co-founder Atul Kapur said Apothecon specialised in complex formulations and had a record of launching differentiated products. The funding is intended to support pipeline development, entry into new geographies and complementary acquisitions.
Deal terms and financing
The stake percentage was not disclosed. The founding promoters retain a meaningful holding and Waymade invested alongside Everstone through Waymade Capital.
Market context
Apothecon Group brings together India's Apothecon Pharmaceuticals and US-based Navinta III. It has in-house manufacturing and captive API production in India and the US, more than 20 approved ANDAs, over 100 approved dossiers in other markets and more than 800 employees.
