US pharma giant Viatris to divest India API, women's healthcare businesses for USD 1.2 billion
Both the India deals are expected to close in Q1 2024, according to the Viatris statement.;
New Delhi: Viatris (formerly known as Mylan Inc) has finalised two deals in India to divest its API (active pharmaceutical ingredients) and women's healthcare businesses for a combined consideration of around $1.2 billion, the healthcare company said on Monday.
The United States-headquartered global healthcare company has centres in Pittsburgh, Shanghai, and Hyderabad. Viatris has executed an agreement to divest its API business in India to Iquest Enterprises, a Hyderabad-based pharmaceutical company owned by Nimmagadda Prasad, the founder of Matrix Laboratories.
The transaction includes three manufacturing sites and a R&D lab in Hyderabad, three manufacturing sites in Vizag and third-party API sales. However, Viatris will retain some selective R&D capabilities in API.
The women's healthcare business, which primarily relates to oral and injectable contraceptives, has been sold to Insud Pharma, a leading Spanish multinational pharmaceutical company. The deal includes two manufacturing facilities in India: one in Ahmedabad and the other in Sarigam.
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