New Delhi, May 6 (UNI) BTS India Private Equity Fund Ltd today said it will invest about seven million dollars in Chandigarh-based Parabolic Drugs.
The capital will be used for funding Parabolic's next level of growth and significantly expanding capacities for its existing and new products, a company statement said.
Parabolic Drugs, which has facilities at Derabbasi and Panchkula near Chandigarh, has already established itself with several global pharmaceutical companies as an important supplier for APIs and bulk drugs ranging across several products in the betalactum and cephalosporins range.
The company has obtained type II US Food and Drug Authority approval and Certificate of Suitability for some of its products.
It is currently in the process of filing several DMFs and CEPs for further strengthening its exposure to the regulated markets both in Europe and the US.
Going forward, it also plans to enter non-beta lactum products in the next 2-3 years, it added.
YES Bank was the sole strategic advisor to Parabolic for the transaction.
UNI BJR SR ND1734