Multiples PE Invests INR 6,850 Mn in BDR Pharma for 9.3% Stake

BDR Group focuses on development in 4 specialized therapeutic segments, viz. Oncology, Critical care, Gynecology & Neurology, which are its dream segments. Its portfolio in India includes Covid-19 drugs Favipiravir, Molnupiravir and Baricitinib

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Mumbai-based Multiples Private Equity-led consortium invests INR 6,850 Mn for a ~9.3% stake in BDR Pharmaceuticals International Private Limited, an R&D-focused, integrated pharma player.

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Multiples has been a regular investor in Pharmaceuticals and Healthcare space, says the company. It is the first private equity (PE) investor in BDR Pharma. The latter focuses on development in 4 specialized therapeutic segments, viz. Oncology, Critical care, Gynecology & Neurology.

BDR Pharma's Chairman and MD, Dharmesh Shah said, "We are looking forward to accelerating our growth journey with trusted investors having a deep understanding of the sector, and regulatory environment and who bring first-hand experience in working with innovative, high-growth companies."

The consortium of investors participating along with Multiples includes institutional investors such as the investment arm of Times Group, QRG Invest (Havells Family Office), and high net worth individuals Nishant Agarwal of Avighna Group, and Mallika Srinivasan of TAFE.

The funds will be used by the company to build additional research and development capabilities in current and emerging areas, accelerate investments in manufacturing capacity expansion and enhance the degree of vertical integration. The Company will also selectively pursue inorganic opportunities to build scale.

"Multiples brings strong sector expertise with investments in companies across the value chain. Animal health (Zenex Animal Health), Formulations (Encube and Natco Pharma) and Hospitals (Vikram Hospitals) are some of the segments where it has backed companies with strong differentiation, and high-quality entrepreneurs and management teams," says an official statement.

The firm sees Pharmaceuticals and Healthcare as a highly promising segment in the country, with Indian companies having capabilities to serve a growing domestic market as well as be competitive in global markets. Multiples expect this sector to be a highly active sector for us in the future as well.