Kotak Alternate Asset Managers (Kotak Alt), announced an investment of Rupees 1445 crore for the acquisition of API business of Viatris by Matrix Pharma. The acquisition has been consummated by the Kotak Strategic Situations Fund II.
Upon acquisition, Matrix will be the 2nd largest Indian API player with global leadership in antiretroviral (ARV) APIs. Matrix will gain access to strong R&D capabilities, including 185+ scientists and 600+ DMF filings. With regulatory approvals for the US and EU, it will aim to leverage its long-standing relationships with global pharma majors.
Kotak Alt will also aim to enable Matrix to consolidate its leadership in the API business by strengthening its third-party sales and selectively evaluate inorganic opportunities in the pharma contract development and manufacturing organisation (CDMO) space.
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