KKR acquires $200 million stake in India’s Gland Pharma

Indian injectable generic firm Gland Pharma says it has reached an agreement under which Kohlberg Kravis Roberts & Co (KKR), a global investment firm, will acquire a minority stake in the company for around $200 million, including the entire stake held by Evolvence India Life Sciences Fund (EILSF), an existing private equity investor in Gland Pharma.

The actual size of the stake has not been disclosed by the companies, but a report in The Economic Times of India suggests this is around 25%, noting the company will be valued at $600-650 million after the capital infusion. The deal is reportedly KKR’s first investment in the Indian pharmaceutical sector. In 2011, the investment firm acquired Pfizer’s Capsugel business for $2.38 billion (The Pharma Letter April 5, 2011).

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