Indian private equity firm Samara Capital has bought South African drug maker – Adcock Ingram’s pharma business in India for Rs. 151 crores (about $22.26 million) in all cash deal.
The deal includes Adcock Healthcare’s Cosme Farma Laboratories with its manufacturing and distribution unit. Privately held Cosme Farma Laboratories Ltd. was acquired by Adcock Healthcare three years ago for Rs. 480 crores ($86 million).
Per Adcock’s official statement, its regulatory services business is not included in the deal and would be separated from Adcock Healthcare.
About Samara Capital
Samara Capital is a private equity firm founded by Sumeet Narang, a former Citigroup India executive, in 2006. It is headquartered in Mumbai, India.
Samara is an India-focused firm with portfolio in the healthcare sector including Mumbai-based medical consumables maker Lotus Surgical Specialities Pvt Ltd and Gurgaon-based Guardian Lifecare.
About Adcock Ingram Healthcare Limited
Adcock Ingram Healthcare Limited is South African pharmaceuticals company that operates as a subsidiary of Adcock Ingram Holdings Limited. It was incorporated in 2007 and is based in Midrand, South Africa.
Adcock Ingram Healthcare Limited develops, manufactures, markets, and distributes pharmaceuticals and consumer products in South Africa. It currently offers a portfolio of prescription, generic, and over the counter (OTC) drugs.