Advent International to acquire 60 percent stake in RA Chem Pharma

They also said the PE firm is acquiring up to 60 per cent stake in the pharmaceutical company.

"We continue to be excited about India's pharmaceutical landscape, and investing in RA Chem Pharma will further strengthen our presence in the sector," Advent International MD and Head (India) Shweta Jalan said in a statement.

The company aims to build one of the leading API (active pharmaceutical ingredient) platforms in India and will leverage its financial and operational resources globally to scale RA Chem Pharma both organically and inorganically, she added.

Advent International has significant experience in the healthcare industry globally, the statement from the PE firm said.

"We believe that this transaction will further build upon RA Chem's strengths to continue its journey to deliver high-quality, niche and specialised products to its customers globally," Micro Labs Chairman and MD Dilip Surana said.

Read also: Sun Pharma to acquire Canada based Aquinox Pharmaceuticals