India is the world’s largest provider of generic medicines and is the biggest manufacturer of vaccines, according to Invest India. AFP
India is the world’s largest provider of generic medicines and is the biggest manufacturer of vaccines, according to Invest India. AFP
India is the world’s largest provider of generic medicines and is the biggest manufacturer of vaccines, according to Invest India. AFP
India is the world’s largest provider of generic medicines and is the biggest manufacturer of vaccines, according to Invest India. AFP

Investcorp invests $17.5m in Indian pharmaceutical company V-Ensure


Mary Sophia
  • English
  • Arabic

Investcorp, the alternative asset manager that lists Mubadala Investment Company as its biggest shareholder, invested 1.3 billion rupees ($17.5 million) in India's V-Ensure Pharma Technologies, marking its first investment in the South Asian country's pharmaceutical sector.

The deal will allow V-Ensure to expand and launch its products in North America, Europe and other global markets, the Bahrain-based company said in a statement on Monday.

Asia-based private investment firm, Tanas Capital, also participated in the funding round of V-Ensure.

"V-Ensure is a renowned name among India-based pharmaceutical research organisations which aims to tap global markets with its own products," said Gaurav Sharma, head of private equity, Investcorp India.

"Investcorp’s global presence and knowledge will potentially help V-Ensure as they look to establish their presence directly in the US market.”

The latest investment, which is the company's third in India's healthcare industry, is part of Investcorp's strategy to tap into the world's second most populous country.

The company plans to double its private equity investments in India with a particular focus on healthcare and pharmaceuticals, consumer tech and FinTech, Mr Sharma told The National in an interview last year.

India is the world’s third-largest pharmaceutical market by volume, the largest provider of generic medicines and is the biggest manufacturer of vaccines, with the market projected to reach $130bn by 2030, according to Invest India.

The country's domestic pharmaceutical market is estimated at $42bn in 2021 and likely to reach $65bn by 2024, according to the Indian Economic Survey 2021. Meanwhile, its biotechnology industry is expected to reach $150bn by 2025.

Founded in 2010, V-Ensure develops specialty pharmaceutical formulations focused on complex generics for regulated markets without infringing on any existing patents. It also specialises in developing the right strategies to obtain regulatory approvals to commercialise these molecules, Investcorp said.

V-Ensure has developed solid oral, liquid oral and injectable products for more than 45 companies across Europe, North America, China, Australia and Brazil.

"We look forward to this partnership and supporting the company in scaling its operations, both in India and globally, drawing upon our global mid-market expertise,” Mr Sharma said.

Investcorp's investments in India include logistics start-up Xpressbees, e-commerce platform FreshToHome and healthcare company NephroPlus, among others. It led a $17m investment round in Indian packaged food and beverage company Wingreens Farms in November.

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Date started: 2012

Founder: Amir Barsoum

Based: Dubai, UAE

Sector: HealthTech / MedTech

Size: 300 employees

Funding: $22.6 million (as of September 2018)

Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC

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Company profile

Name: Tratok Portal

Founded: 2017

Based: UAE

Sector: Travel & tourism

Size: 36 employees

Funding: Privately funded

Ferrari 12Cilindri specs

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Power: 819hp

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Available: Now

The specs: 2018 BMW R nineT Scrambler

Price, base / as tested Dh57,000

Engine 1,170cc air/oil-cooled flat twin four-stroke engine

Transmission Six-speed gearbox

Power 110hp) @ 7,750rpm

Torque 116Nm @ 6,000rpm

Fuel economy, combined 5.3L / 100km

The specs: 2018 Renault Koleos

Price, base: From Dh77,900
Engine: 2.5L, in-line four-cylinder
Transmission: Continuously variable transmission
Power: 170hp @ 6,000rpm
Torque: 233Nm @ 4,000rpm
Fuel economy, combined: 8.3L / 100km

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THE SPECS

Engine: Four-cylinder 2.5-litre

Transmission: Seven-speed auto

Power: 165hp

Torque: 241Nm

Price: Dh99,900 to Dh134,000

On sale: now

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Updated: February 21, 2022, 8:09 AM`