Fidelity Growth Partners India, the India-focused private equity arm of Fidelity Worldwide, has invested around Rs 200 crore in Hyderabad-based pharmaceutical company, Aptuit Laurus. The company manufactures active pharmaceutical ingredients (APIs) for anti-retroviral (HIV-AIDS), oncology, nutraceutical and several other products with a customer base spanning in India and abroad. The company also has a growing contract research and manufacturing business offering, which works with several global pharma companies, the release said.
“In a short span of time, Laurus has established global leadership positions in its key product offerings, built world-class infrastructure and serves a top-tier customer base. The company continues to drive innovation in its strong product pipeline of difficult-to-make molecules, which, we believe will help it build a long-term defensible business,” Senior Managing Director at FIL Capital Advisors (India), Raj Dugar said. However, the company didn’t disclose the stake it will get in the pharma company after the announced investment.
Referring to this equity investment, Chief Executive Officer of Laurus, Chava Satyanarayana said, “Laurus has built a strong reputation in product development and manufacturing and a track record of high-quality products to its customers. We are glad to partner with FGPI in this phase of our growth, where, we will seek to continue the thrust on innovation and manufacturing excellence in offering cost effective products and services.”
