BDR Pharma Raises INR 685 Crore From Multiples, Other Investors

Opportunity India Desk
Opportunity India Desk May 17 2022 - 3 min read
BDR Pharma Raises INR 685 Crore From Multiples, Other Investors
The investment proceeds will be used for building research and development capabilities in existing and emerging areas, to increase manufacturing footprint and enhance vertical integration.

Leading pharmaceutical company BDR Pharma has recently raised INR 685 Crores from a consortium of investors led by private equity firm Multiples.

According to a leading business daily report, Multiples, along with other investors, have invested this amount for 9.3 per cent stake in the company.

The consortium of investors include Times Group, QRG Invest, and high networth individuals Nishant Agarwal of Avighna Group and Mallika Srinivasan of TAFE.

Manish Gaur, Managing Director of Multiples was quoted saying that BDR Pharma’s R&D capabilities build a strong track record of being first to market multiple complex molecules in India.

According to the report, the investment proceeds will be used for building research and development capabilities in current and emerging areas, increase manufacturing footprint and enhance vertical integration.

The company will also selectively pursue inorganic opportunities.

BDR Pharma, founded by Dharmesh Shah in 2003, supplies finished products for leading pharma companies, and has also launched its own brands. The company focuses on therapeutic segments such as oncology and critical care with a growing presence in dermatology and gynaecology.

With a strong pipeline for new product launches and a wide portfolio of product registrations across export markets, the company is also investing in becoming a vertically integrated manufacturer of its key products, taking advantage of government production linked incentive (PLI) scheme.

The company posted a revenue of Rs.1,200 crore and earnings before interest taxes, depreciation and amortisationof Rs.400 crore in FY21. It expects its revenue to cross Rs.1,500 crore in FY22.

Gastric Cancer Drug Furmecil

BDR Pharma has launched an oral drug named FURMECIL recently, which is a combination of three drugs including Tegafur, Gimeracil and Oteracil-- to treat advanced gastric cancer.

Speaking at the launch, Raheel Shah, Director (Business Development), BDR Pharma said that focus is to provide access and affordable medicines for cancer patients in India with high quality standards without compromising safety.

Gastric cancer remains one of the most important malignancies worldwide in terms of incidence and mortality. It is the fourth most common malignant disease and the second leading cause of cancer-related deaths worldwide. The treatment consists of targeted molecules, a combination of local surgery and radiation therapy as well as systemic chemotherapy.

The combination therapy with S-1 has been in progress to obtain a better survival benefit, lower cost and better quality of life as per Indian Journal of Medical and Paediatric Oncology.

The Indian pharmaceutical industry is the world’s third largest by volume and 14th largest in terms of value.

Total annual turnover of pharmaceuticals was INR 2,89,998 crore for the year 2019-2020.

Total pharmaceutical exports and import were to the tune of INR 1,46,260 crore and INR 42,943 crore respectively in the year 2019-20.

Major segments of pharmaceutical industry are generic drugs, Over-The-Counter (OTC)medicines and Active Pharmaceutical Ingredient (API) and Bulk Drugs, vaccines, contract research &manufacturing, biosimilars&biologics.

Indiahas the second-highest number of US Food and Drug Administration (FDA)approved plants outside the US.

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