Acquires minority stake
Visakhapatnam-based Laurus Labs, a developer and manufacturer of active pharmaceutical ingredients (APIs), said that an affiliate of Warburg Pincus, a global private equity firm focused on growth investing, has acquired a minority stake in the company by investing approximately Rs 550 crores.
Warburg Pincus will join Fidelity Growth Partners India (FGPI) and Boston-based Fidelity Biosciences, who led an earlier round of investment in 2012, as an investor in the company. The terms of the transaction were not disclosed.
Laurus is a manufacturer of APIs for anti-retroviral (ARV), oncology, cardio-vascular, anti-diabetic therapeutic segments. The company also has a presence in nutraceuticals and several other products.
EP News Bureau – Mumbai
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