Kotak Alternate Asset Managers (Kotak Alt) has announced an investment of Rs 1445 crore for the acquisition of API business of Viatris by Matrix Pharma. The acquisition has been completed by Kotak Strategic Situation Fund II.

After this acquisition, the matrix will be 2.n.d Largest Indian Active Pharmaceutical Ingredients (API) player with global leadership in Antiretroviral (ARV) APIs.

Matrix will have access to strong R&D capabilities, including 185+ scientists and 600+ DMF filings. With regulatory approvals for the US and EU, it will be able to leverage its long-standing relationships with global pharma companies.

Kotak Alt will enable Matrix to consolidate its leadership in the API business by strengthening its third-party sales and selectively explore inorganic opportunities in the pharma contract development and manufacturing organization (CDMO) space.

Srini Srinivasan, Managing Director, Kotak Alternative Asset Managers Limited said, “This purchase of a significant business as well as key existing management coming on board demonstrates Kotak Alt’s strong deal sourcing and structuring capabilities.”

“India is the third largest API producer in the world given its chemistry capabilities and cost-competitive manufacturing,” said Ishwar Karra, CEO, Kotak Strategic Situation Fund at Kotak Alternative Asset Managers.

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