Rubicon Research acquires 85% stake in Arinna Lifesciences
Transaction valued at INR 200 crore to expand presence in CNS therapies and domestic formulations market
Rubicon Research announced the acquisition of an 85 per cent equity ownership in Arinna Lifesciences from its current shareholders.
Arinna has a portfolio of over 60 brands in chronic therapies and focuses on drugs for conditions of the central nervous system, with more than 4,000 prescribers supported by a distribution network of distributors, stockists and retail pharmacies in India.
The acquisition is part of Rubicon’s strategy to leverage its intellectual property and chronic products portfolio in key markets, including the central nervous system therapeutic category. Arinna’s sales and distribution network will provide Rubicon access to patients and prescribers in India for its offerings, including a pipeline of specialty products and drug-device combinations.
Parag Sancheti, Chief Executive Officer of Rubicon Research, said; “The past decade has demonstrated the effectiveness of Rubicon’s playbook of R&D innovation, execution rigor and impeccable compliance standards which enabled us to scale our US revenues by over 32 x from FY15 to FY25 while delivering best-in-class return ratios. Arinna now provides us a launchpad for deploying this playbook in the Indian domestic formulations market. Strategic M&A has always been integral to Rubicon’s strategy and our confidence stems from having successfully integrated and scaled acquisitions to foray into new segments such as US branded specialty in 2024 and nasal products development in 2020. I am pleased to welcome Vivek and the Arinna team to the Rubicon family.”
The transaction values Arinna at an enterprise value of INR 200 crore on a cash and debt free basis. After accounting for net cash and other adjustments, the purchase consideration has been determined at approximately INR 175.92 crore for the acquisition of 85 per cent equity shareholding at a price of INR 158.53 per share. The final consideration remains subject to adjustments on the closing date.
For the nine months ended 31 December 2025, Arinna reported provisional revenue of INR 56.7 crore and EBITDA of INR 9.5 crore.
The transaction is expected to close within 30 days, subject to agreed conditions. Arinna’s founder Vivek Seth will retain a 15 per cent ownership interest and continue as Managing Director.