Warburg Pincus will join Fidelity Growth Partners India (FGPI) and Boston-based Fidelity Biosciences, who led an earlier round of investment in 2012, as an investor in the company. However, the terms of the transaction were not disclosed.
Laurus is a manufacturer of APIs for anti-retroviral (ARV), oncology, cardio-vascular, anti-diabetic therapeutic segments. The company also has a presence in nutraceuticals and several other products, with a customer base that spans top-tier generic pharmaceutical companies in India and abroad. In addition to the API business, the company has a fast-growing contract manufacturing business that caters to several generic and innovation-driven, global pharmaceutical companies.
Satyanarayana, founder and CEO, Laurus, said, Laurus is at an important juncture in its evolution. We are glad to partner with Warburg Pincus in this phase of our growth where we will seek to continue the thrust on innovation and manufacturing excellence in offering cost-effective products and services and foraying into new business segments. In addition to securing growth capital, we look forward to leveraging Warburg Pincus deep domain expertise and global network of relationships to help enter new markets and add to our customer base.
The company has grown rapidly since its first full year of commercial operations in 2008, recording revenues of around R1,200 crore in FY14.