India’s leading producer of APIs
Every day around the world serious medical conditions, like asthma, arthritis, and infertility are managed by steroid and hormone medications. These active pharmaceutical ingredients (APIs) are purchased by generic pharma and multinationals to be utilised in widely used medication.
In October 2013 Actis invested $48m in Indian’s leading producer of these products – and number two player in Asia, Symbiotec.
Actis’ understanding of the business is based on its regional and sector knowledge of the industry derived from years of experience with pharmaceutical companies. Demand for steroids and hormones has surged as patients seek to alleviate environmental and lifestyle conditions, pursue gynaecological therapies linked to conception and have more money to spend on treatments.
India was the natural place for our global healthcare investment team to source such a sophisticated manufacturer: the country has the largest number of US Food and Drug Administration-approved API plants in the world. Looking ahead, India is well placed to maintain its global market share by producing high-end, difficult-to-manufacture molecules and drug classes.
From identifying technical experts to introducing well connected advisers able to approach major target clients, Actis has forged a strong partnership with the management team. Together we are institutionalising the business by strengthening the senior management team: hiring a new COO, CFO, Business Development Head, EHS Head and Sr. VP Quality, implementing management information systems (MIS) and SAP expanding the customer base by identifying potential targets and making introductions and improving product and partner selection on the formulations side.
Founder Anil Satwani remains actively involved in Symbiotec and in charge of day-to-day operations.