BDR Pharma and PAG announced that BDR Pharma will acquire a controlling stake in the oral solid formulations business of Acme Formulation and its subsidiaries from its existing shareholders, led by PAG. The acquisition aligns with BDR’s growth priorities across oncology, critical care and women’s healthcare, while creating opportunities to expand its product offerings in international markets. A key strategic rationale for the acquisition is the addition of complementary capabilities across thyroid products, female sex hormone products and general pharmaceutical products. o3 Capital acted as the exclusive financial advisor to BDR Pharma on the transaction.
“We have been on a strong growth trajectory driven by strategic investments, innovation and an expanding global ambition. Acme will further strengthen our CDMO platform and add differentiated capabilities. We see this as part of a larger growth roadmap, with more strategic initiatives expected as we continue to build and expand our global presence”, said Dharmesh Shah, Chairman and Managing Director of BDR Pharma.
Having sold a controlling stake in the oral solid business, PAG and Viral Shah will retain full ownership of Immacule, one of India’s leading sterile injectable focused contract manufacturing businesses. Immacule has recently commissioned a new facility with a capacity of 200M+ units p.a. and provides a broad set of capabilities across dosage forms such as liquid / lyophilized vials, pre-filled syringes, cartridges and therapeutic areas such as oncology, ophthalmology and general injectables.
“We are proud of what Acme has become during our partnership. This transaction reflects the strength of the platform we have built with Viral and the Acme team and we believe that BDR Pharma is the ideal owner to take it to the next level. We will now sharpen our focus on building Immacule into a leading global sterile injectables platform,” said Nikhil Srivastava, Partner and Co-Head of Private Equity at PAG.
“Acme has been built on long-standing customer relationships and a committed team. BDR Pharma’s strength in new and complex medicines will bring more innovative products to Acme’s CMO and CDMO clients, existing and new, across geographies. I will work closely with BDR Pharma for a smooth transition, while I focus on growing Immacule,” said Viral Shah, Founder of Acme and MD of Immacule.
The acquisition deepens BDR Pharma’s CDMO platform without overlapping with its existing areas of focus, giving it a more specialised manufacturing base in women’s healthcare and thyroid therapies that complements its broader therapeutic footprint, informed a company statement