Months after sealing a deal with Ahmedabad-based Torrent Pharma for the sale of two of its leading women’s healthcare brands, Swiss pharmaceutical major NovartisBSE 0.81 % AG is now in advanced stages of selling its niche portfolio of anti-infective brands as part of its ongoing strategy to divest non-core portfolios in India, two sources familiar with the proposed transaction told ET NOW on the condition of anonymity.
“Samara Capital is the front-runner at this stage and an official announcement is expected shortly. Samara Capital is bullish on this segment and 7-8 brands which are part of the anti-infective portfolio will be acquired as part of the deal,” said one of the two sources cited above.
“These anti-infective brands will be accretive to Samara Capital as they are looking to create a strong women’s healthcare portfolio and make the brands available to general practioners as well as gynaecologists,” added the second source.
In April 2016, South African drug maker Adcock Ingram Holdings Ltd exited its pharmaceutical operations in India by selling its drug marketing and sale business to Samara Capital for Rs.151 crore. The proposed deal with Novartis AG would complement this earlier transaction, sources added. Boutique investment bank Torreya Partners is the advisor to the transaction, they added.
“The company has completed the acquisition of Regestrone and Pregachieve brands for India from global pharma player Novartis AG, Switzerland. These brands are widely prescribed by gynaecologists for the management of abnormal uterine bleeding, Peri and Post-menopausal symptoms and Infertility,” Torrent Pharma announced in an official statement in early May, 2016?
Samara Capital is an entrepreneurially run India-focused private equity firm founded in 2006 by Sumit Narang and Gautam Gode.
