Kotak to part finance Matrix Pharma's acquisition of Viatris' API biz
Kotak Alt, part of India's Kotak Mahindra Group, has invested $173 million in Matrix Pharma to facilitate its acquisition of Viatris’ (Nasdaq: VTRS) active pharmaceutical ingredient (API) business, a major US-based company.
The acquisition will position Matrix as the second-largest Indian API player, with global leadership in antiretroviral APIs. Additionally, the deal provides Matrix with extensive R&D capabilities, with more than 600 Drug Master File (DMF) filings.
Matrix's founder, Nimmagadda Prasad, said Kotak Alt’s capital infusion is aimed at enhancing Matrix’s leadership in the API sector by bolstering third-party sales and exploring opportunities in the pharmaceutical contract development and manufacturing organization (CDMO) space.
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