Kotak Alt Injects ₹1,445 Cr to Boost Matrix Pharma’s Acquisition Power – Pharma Industry

Kotak Alternate Asset Managers Ltd announced on Tuesday that it has invested ₹1,445 crore in Matrix Pharma through a mix of debt and equity. This investment will help Matrix Pharma acquire the active pharmaceutical ingredient (API) business of Vaitris. After the acquisition, Matrix will become the second largest API producer in India and a global leader in antiretroviral (ARV) APIs, according to an official statement.

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The acquisition will also provide Matrix with access to strong research and development capabilities, including over 185 scientists and 600 DMF (drug master file) filings. With regulatory approvals for the US and EU markets, Matrix will be able to leverage its long-standing relationships with major global pharmaceutical companies.

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“Kotak Alt will help Matrix strengthen its leadership in the API business by boosting third-party sales and will also look into inorganic growth opportunities in the pharma contract development and manufacturing organization (CDMO) space,” the statement added.

Kotak Alt’s managing director, Srini Sriniwasan, stated that the transaction showcases the company’s ability to source and structure deals, as well as its strength in the pharmaceutical sector.

Eshwar Karra, the CEO of Kotak Strategic Situations Fund, said the investment will support Matrix Pharma’s global ambitions. He also highlighted that India is the third largest API manufacturer in the world, thanks to its strong chemistry capabilities and cost-effective manufacturing.