KKR invests $200 million in Indian injectables maker

US investment firm KKR has bought a stake in Indian pharmaceutical company Gland Pharma for approximately $200 million.

KKR will also acquire the entire stake held by the Evolvence India Life Sciences Fund, an Indian private equity investor.

According to a statement released by KKR, its deal with Gland Pharma is the largest ever private equity investment in an Indian pharmaceutical company.

Hyderabad-based Gland Pharma makes generic injectable pharmaceutical products, primarily for the US market, but also for India and other markets.

It was the first Indian company to receive approval from the US Food and Drug Administration for pharmaceutical liquid injectable products.

Gland Pharma’s founder and chairman P V N Raju said: “Our partnership with KKR will help us in our next phase of growth as we look to materially expand our manufacturing capacities and invest more in our development work with the goal of expanding our product registrations.”

Vice chairman and managing director of Gland Pharma Ravi Penmetsa said that the company looks forward to leveraging KKR’s global network of relationships to enter new markets.

The transaction is subject to regulatory approval.