Kotak Alt invests ?1,445 crore for buying of API arm of Viatris by Matrix Pharma ?

Published - June 11, 2024 10:34 pm IST - MUMBAI

Kotak Alternate Asset Managers Ltd. has announced an investment of ?1,445 crore for acquisition of API business of Viatris by Matrix Pharma Private Ltd. The acquisition has been consummated by the Kotak Strategic Situations Fund II. Post this acquisition, Matrix will gain access to strong R&D capabilities, including over 185 scientists and over 600 DMF filings.? Kotak Alt said it would enable Matrix to consolidate its leadership in the API business by strengthening its third-party sales and will selectively evaluate inorganic opportunities in the pharma contract development and manufacturing organization (CDMO) space.? Srini Sriniwasan, Managing Director, Kotak Alternate Asset Managers said, “This buy-out of a significant business along with key incumbent management coming on board, demonstrates our strong deal sourcing and structuring capabilities.”? “It underscores our Pharma industry capabilities and ability to create a platform to build a robust API business which we can support with organic and inorganic growth.” he added. ?

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