PharmaLytica 2021 Hyderabad review.

PAG-led platform Gamot buys 70% in Chennai-based Anjan Drug

An investment platform called Gamot, along with Samara Capital and CX Partners, has been formed by Top Asian private equity group PAG, to buy stakes in fast-growing Indian pharma companies. By acquiring a 70% stake in Chennai-based Anjan Drug, the platform has made its first investment, four people with knowledge of the development said.

As the country is expected to become an important part of the global supply chain amid changing geopolitical dynamics, the instruction is to invest in Indian formulations and API manufacturers. Gamot will be led by PAG as a majority partner. “The platform may even invest up to $500 million in Indian pharma companies as and when opportunities arise,” sources said.

This week, a formal announcement of the formation of the consortium and the Anjan deal is expected. The platform is exploring several deals in the sector and is likely to close a couple of more deals in another quarter or so.

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