Kemwell looks for buyouts in Baltic, taps PEs for new unit
Bangalore-based pharmaceutical company Kemwell is learnt to be in talks with private equity players for raising funds for a new biologic facility.
By Gaurie Mishra, TNN |
Bangalore-based pharmaceutical company Kemwell is learnt to be in talks with private equity players for raising funds for a new biologic facility. The company, which recently bought Pfizer’s unit in Sweden, is also scouting for acquisitions in the Baltic Sea Regions area to strengthen its presence in the European market. The company, with over $50 million in revenues, is planning to invest $65 million for the new biologic facility. The family-owned company did not disclose the exact equity they will dilute to the PE funds for the funds.
“We have made inroads into the European market in the last one year and are now talking to investors for our new facility that will come up in Bangalore,” said Kemwell VP (business development) Anurag Bagaria.
Besides the biologic facility, the company is also in the process of building another facility to manufacture oral solids in Bangalore for which it has made investment of $12 million. The facility, which will make 5 billion tablets, is currently under validation.
Kemwell is a provider of contract manufacturing and development services for pharmaceutical products in India and Sweden . It has been one of the largest formulations contract manufacturers in India serving both MNC and Indian pharmaceutical companies for over 20 years. The company has four manufacturing facilities in Bangalore and one in Uppsala—one of the biotechnology clusters in Sweden. Pfizer’s unit is located in Uppsala, which Kemwell bought for an undisclosed amount.
The company is also looking at acquisitions in the European market to service other customers in the field of injectibles and sterile manufacturing. “We will continue to look for acquisitions in the Western world to strengthen our presence here,” Mr Bagaria added. He also said that the company was keen on looking at entering the business of retesting drugs for the European market at its Uppsala plant, as regulation requires all drugs to be retested before they are approved for the European market.
Sweden, which has the fourth largest biotechnology industry in the world, offers a wide range of investment opportunities to investors in its life sciences industry including in in-licensing, collaboration and direct investment. Swedish companies have expertise in the entire value chain with particular strengths in drug discovery and development, medical engineering and pharmaceutical production. With over 40,000 employees and 800 companies, Sweden’s life sciences industry is one of Europe’s finest.
“We have made inroads into the European market in the last one year and are now talking to investors for our new facility that will come up in Bangalore,” said Kemwell VP (business development) Anurag Bagaria.
Besides the biologic facility, the company is also in the process of building another facility to manufacture oral solids in Bangalore for which it has made investment of $12 million. The facility, which will make 5 billion tablets, is currently under validation.
Kemwell is a provider of contract manufacturing and development services for pharmaceutical products in India and Sweden . It has been one of the largest formulations contract manufacturers in India serving both MNC and Indian pharmaceutical companies for over 20 years. The company has four manufacturing facilities in Bangalore and one in Uppsala—one of the biotechnology clusters in Sweden. Pfizer’s unit is located in Uppsala, which Kemwell bought for an undisclosed amount.
The company is also looking at acquisitions in the European market to service other customers in the field of injectibles and sterile manufacturing. “We will continue to look for acquisitions in the Western world to strengthen our presence here,” Mr Bagaria added. He also said that the company was keen on looking at entering the business of retesting drugs for the European market at its Uppsala plant, as regulation requires all drugs to be retested before they are approved for the European market.
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Sweden, which has the fourth largest biotechnology industry in the world, offers a wide range of investment opportunities to investors in its life sciences industry including in in-licensing, collaboration and direct investment. Swedish companies have expertise in the entire value chain with particular strengths in drug discovery and development, medical engineering and pharmaceutical production. With over 40,000 employees and 800 companies, Sweden’s life sciences industry is one of Europe’s finest.
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