Express Pharma

Everstone acquires majority stake in Rubicon Research

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Along with a $20 million investment directly into the business, the deal includes acquiring stakes from Kotak Private Equity and a private investor

The Everstone Group has bought a 70 per cent stake in Mumbai-based Rubicon Research, a drug delivery technology company in India, for a total outlay of Rs 220 crores ($33 million).

Along with a $20 million investment directly into the business, the deal includes acquiring stakes from Kotak Private Equity and a private investor.

Rubicon is an outsourcing partner to the global pharma industry and its proprietary technologies provide solutions for bioavailability enhancement, gastric retention, taste masking, and customising the release profiles of drugs. Rubicon also offers life-cycle management services for pharma products.

Rubicon also has a US FDA-approved manufacturing plant at Ambernath in Maharashtra, with a capacity of 800 million tablets and it has refocused its business on creating its own Abbreviated New Drug Applications (ANDAs)/ New Drug Applications (NDAs) for the global market.

This will be the fourth investment from Everstone’s latest PE fund (Everstone Capital Partners III) and was led by Deep Mishra, an Everstone MD who focuses on consumer and pharma investments for the Group. Mishra will be joining the board of directors of Rubicon.

EP News Bureau

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