PEARL RIVER, N.Y.– RK Pharma Inc, a vertically integrated pharmaceutical company based in the U.S. with subsidiaries in India, announced today an investment of up to 200 million USD from PAG, a leading global investment firm. Terms of the deal were not disclosed.
RK Pharma is engaged in the development, manufacture and sale of high quality, affordable generic pharmaceutical products with a particular focus on complex injectables. RK Pharma has a Sterile Drug Product Manufacturing facility in Pearl River, New York, USA. RK Pharma group of companies include subsidiaries Apicore, Archis Pharma and Aktinos Pharma. Apicore and Aktinos provide a rich supply of complex APIs (Active Pharmaceutical Ingredients) and Intermediates; and Archis Pharma is the commercialization arm of the RK Pharma Group.
Dr. Ravishanker Kovi, founder & Executive Chairman of RK Pharma and his executive management team will be partnering with PAG. Dr. Kovi is a world-class biomedical researcher and drug developer with an established record of bringing drugs to market. As Co-founder & CEO of Apicore, a U.S. based developer and manufacturer of specialty pharmaceuticals, he created a portfolio of more than 50 drug substances and drug products which was subsequently sold to Mylan in 2017.
RK Pharma is PAG’s fifth India-focused private equity deal in recent years. Other notable investments include Nuvama, India’s second largest independent wealth manager; Gamot API, a platform for investing in leading active pharmaceutical ingredient (API) companies; and Acme Formulation, a leader in contract development and manufacturing outsourcing (CDMO) pharmaceuticals. PAG has invested more than USD1.5 billion in India in the last few years.
Dr. Kovi said, “We are pleased to be partnering with PAG, an established investment firm with a successful track record of supporting leading companies in the pharmaceutical space. This transformative investment by PAG would help ensure that RK Pharma can accelerate its growth plans, partnerships, and develop/ launch further innovative medicines for the benefit of patients; and strengthen RK Pharma’s position as a leading fully vertically integrated specialty injectable and ophthalmic pharmaceutical company.”
Citadel Management Consulting, served as an exclusive financial advisor. Mr. Vijay Datt, CEO of Citadel said: “RK Pharma is well poised to become a leading vertically integrated specialty injectable company. PAG’s strategic investment is a massive endorsement of RK’s strong R&D capabilities and unique positioning in the broader injectable CDMO space. I would like to sincerely thank RK Pharma for the opportunity to advise on the transaction.”
