BDR Pharmaceuticals International Pvt. Ltd is acquiring a controlling stake in Acme Formulation Pvt. Ltd's oral solid formulations business and its subsidiaries from existing investors, including private equity firm PAG. According to sources close to the deal reported by The Hindu BusinessLine, the transaction values the business at approximately ₹2,370 crore ($250 million). O3 Capital acted as the exclusive financial advisor to BDR Pharma on the transaction. However, the companies did not disclose the financial details of the transaction in their joint statement.
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. As reported by Mint, a key strategic rationale for the acquisition is the addition of complementary capabilities across thyroid products, female sex hormone products and general pharmaceutical products. Dharmesh Shah, chairman and managing director of BDR Pharma, stated that the acquisition will further strengthen their 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," Shah added.
The acquisition deepens BDR Pharma's CDMO platform without overlapping with its existing areas of focus, giving it a more specialized manufacturing base in women's healthcare and thyroid therapies that complements its broader therapeutic footprint. According to Mint, the company sees an opportunity to leverage the acquired capabilities alongside its recently acquired portfolio of Abbreviated New Drug Applications (ANDAs) and products for the US market. BDR plans to utilize Acme's USFDA-approved manufacturing base to commercialize its ANDAs in the US market, with the manufacturing infrastructure and available capacity enabling progressive transition towards commercializing its own portfolio.
Founded in 2003, BDR Pharma is a global integrated complex generics platform with a growing presence in specialized therapies, backed by Multiples Private Equity. As reported by Mint, the company's capabilities span finished formulations and active pharmaceutical ingredients, supported by a diversified manufacturing footprint. It partners with leading pharmaceutical companies across regulated and emerging markets, with robust research and development capabilities anchored by state-of-the-art infrastructure.
PAG and Acme's founder, Viral Shah, will retain full ownership of Immacule Lifesciences, one of India's leading sterile injectable-focused contract manufacturing businesses. According to The Hindu BusinessLine, Nikhil Srivastava, partner and co-head of private equity at PAG, stated that the transaction reflects the strength of the platform built with Viral and the Acme team. "We will now sharpen our focus on building Immacule into a leading global sterile injectables platform," Srivastava added. Viral Shah, managing director of Immacule, emphasized that BDR Pharma's expertise will enable more innovative products for existing and new clients across geographies.
