Advent International to acquire stake in Felix Pharmaceuticals
Advent International
, a leading global
private equity investor
, signed a definitive agreement to invest $175 million via primary and secondary for a significant minority stake in Dublin-headquartered
Felix Pharmaceuticals
, a leading global generic animal pharma player, stated a company release.
Felix
Pharma is a manufacturer of off-patent medicines for companion animals.
Felix develops, manufactures and supplies to distributors and other branded generic players for private labelling, particularly in the US. With a portfolio of 14 approved products from
USFDA
and many more under review and development, Felix has the widest portfolio of products in the industry.
'Felix is well positioned to lead this generic space with its strong leadership, broad portfolio, and robust R&D and commercial capabilities. Its rapid growth and high customer satisfaction make it a differentiated platform, and we are excited to support Neeraj and the Felix team in scaling it into a global franchise,' said Shweta Jalan, Managing Partner at Advent.
Felix was founded in 2015 by Neeraj Agrawal, Sir Jonathan Symonds and Dr Shumeet Banerji, ex-CEO of Booz-Allen. While the company achieved its first US FDA approval in 2020, marking a pivotal step in its expansion, it has quickly scaled to a 14 commercialised product portfolio and has several others in advanced stages of pipeline, it said. It has a USFDA approved oral solid facility dedicated for
animal health products
and an injectable facility that is expected to be ready by Q3 2025.
Neeraj Agrawal, Co-Founder of Felix Pharma, said, 'As we scale in a fast-evolving market, we were looking for a partner who brings not just capital, but also deep operating expertise and the right mindset and networks to help us grow faster and stronger.'
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India Today
26 minutes ago
- India Today
Shein, Reliance aim to sell India-made clothes globally within a year: Report
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The companies are now racing to expand their network of Indian garment manufacturers from 150 to 1,000 by mid-2026, the sources said. The Shein-Reliance collaboration is part of a broader global shift in supply chains, as fashion retailers look to diversify beyond China. 'Shein has licensed its brand for domestic use to Reliance which is responsible for manufacturing, supply chain, sales and operations in the Indian market,' the company told Reuters in a statement. Reliance did not comment on the matter. Shein first entered India in 2018, but its app was banned in 2020 during a broader crackdown on Chinese-linked apps amid border tensions. The brand re-entered in February 2025 through a licensing deal with Reliance Retail, which now operates Unlike Shein's global sites, which rely heavily on Chinese suppliers, the Indian portal sells clothes made locally. Since relaunch, the Shein India app has been downloaded 2.7 million times across iOS and Android platforms, with monthly growth averaging 120%, according to Sensor Tower. However, the offerings are still modest. Around 12,000 designs are available compared to over 600,000 on Shein's US site. Prices remain ultra-competitive, with the cheapest women's dresses listed at Rs 349 ($4), only slightly higher than US prices due to local production costs. The push to export Indian-made fashion is part of a larger goal to adopt Shein's rapid, on-demand manufacturing model. Reliance executives have been working closely with suppliers to trial small production runsâ€'sometimes as few as 100 pieces per designâ€'and scale up only for styles that perform well, added the news agency's report. To achieve this, Reliance is also looking to build capabilities in areas where India currently lacks edge, particularly synthetic fabric manufacturing. 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With this new venture, India is being positioned as a manufacturing alternativeâ€'potentially turning the country into a key node in global fast fashion supply chains. For Reliance, the Shein partnership is one among several in fashion retail. The conglomerate already runs Ajio and has deals with international brands including Brooks Brothers and Marks & Spencer. It competes aggressively with Amazon, Flipkart and value retailers like Tata's Zudio Shein and Reliance Retail are working on an ambitious plan to transform India into a global manufacturing base for fast fashion, reported news agency Reuters. The aim is to make Shein-branded clothes in India not just for local sales but also for international markets, starting with the US and UK, within the next 6 to 12 months, added the report, citing two people familiar with the discussions. 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The brand re-entered in February 2025 through a licensing deal with Reliance Retail, which now operates Unlike Shein's global sites, which rely heavily on Chinese suppliers, the Indian portal sells clothes made locally. Since relaunch, the Shein India app has been downloaded 2.7 million times across iOS and Android platforms, with monthly growth averaging 120%, according to Sensor Tower. However, the offerings are still modest. Around 12,000 designs are available compared to over 600,000 on Shein's US site. Prices remain ultra-competitive, with the cheapest women's dresses listed at Rs 349 ($4), only slightly higher than US prices due to local production costs. The push to export Indian-made fashion is part of a larger goal to adopt Shein's rapid, on-demand manufacturing model. Reliance executives have been working closely with suppliers to trial small production runsâ€'sometimes as few as 100 pieces per designâ€'and scale up only for styles that perform well, added the news agency's report. To achieve this, Reliance is also looking to build capabilities in areas where India currently lacks edge, particularly synthetic fabric manufacturing. 'The firm will invest in suppliers and help them grow which in turn will help the Shein-Reliance partnership go global,' the sources told Reuters. The plan is to begin offering India-made Shein garments on its US and UK platformsâ€'two of its largest marketsâ€'marking a sharp break from the company's traditional China-first sourcing strategy. The timeline is still fluid, the sources said, and hinges on how quickly Reliance can ramp up its supplier network. Union Minister of Commerce and Industry, Piyush Goyal, had hinted at this pivot in Parliament late last year, saying the Shein-Reliance deal was designed to 'create a network of Indian suppliers of Shein-branded clothes for sale domestically and globally.' Shein, which generated over $30 billion in annual revenue through aggressive pricing and marketing, currently works with more than 7,000 suppliers in China. With this new venture, India is being positioned as a manufacturing alternativeâ€'potentially turning the country into a key node in global fast fashion supply chains. For Reliance, the Shein partnership is one among several in fashion retail. The conglomerate already runs Ajio and has deals with international brands including Brooks Brothers and Marks & Spencer. It competes aggressively with Amazon, Flipkart and value retailers like Tata's Zudio Join our WhatsApp Channel
Time of India
28 minutes ago
- Time of India
Shein and Reliance aim to sell India-made clothes abroad within a year, sources say
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Business Standard
40 minutes ago
- Business Standard
India key to global transition efforts, says WBCSD CEO Peter Bakker
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