KKR to Invest Around US$200 Million in India-based Gland Pharma (Asia)
Source: Kohlberg Kravis Roberts & Co.
Global investment firm Kohlberg Kravis Roberts & Co. (KKR) has reached an agreement with India-based pharmaceutical developer and manufacturer Gland Pharma to acquire a minority stake in the company for approximately US$200 million. The transaction will be structured through the KKR Asian II Fund, and includes KKR’s acquisition of the entire stake held by life science-focused private equity investor Evolvence Life Sciences Fund. Gland Pharma, which develops and manufactures generic injectables primarily for the U.S. market, intends to use the fresh funding to expand its manufacturing capacities and invest more in its development work with the goal of expanding product registrations. The transaction is subject to regulatory approvals and other customary closing conditions.