Latest news with #NeerajAgrawal
Economic Times
6 hours ago
- Business
- Economic Times
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.'
Time of India
8 hours ago
- Business
- Time of India
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.'
Mint
9 hours ago
- Business
- Mint
Advent to acquire significant minority stake in animal drug maker Felix Pharmaceuticals for $175 million
Private equity firm Advent International has signed a definitive agreement to invest $175 million (about ₹ 1,500 crore) for a significant minority stake in Felix Pharmaceuticals Pvt. Ltd, an Ireland-headquartered company focused on developing and manufacturing generic medicines for companion animals such as dogs, cats, and horses. This marks another bet by Advent in the growing healthcare space, this time tapping into the under-penetrated animal health generics segment, where branded drugs continue to dominate. Founded in 2015, Felix Pharma is among the fastest-growing companies in the animal health space, with 14 USFDA-approved products and several more in the pipeline. The company primarily supplies to distributors and other branded generics players, especially in the US, through private labelling. 'Felix has an opportunity to shape the companion animal health generics market. The industry is nascent, with less than 10% share held by generic players, providing a long-term growth opportunity,' said Pankaj Patwari, managing director at Advent, in a statement. '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,' said Neeraj Agrawal, co-founder of Felix. 'Advent's strong track record in healthcare and pharma, and their close involvement in building strong businesses, gives us great confidence,' he added. Felix was co-founded by Neeraj Agrawal, a McKinsey alum, Sir Jonathan Symonds, chair of GSK, and Dr. Shumeet Banerji, former CEO of Booz Allen Hamilton. The company received its first USFDA approval in 2020, and now operates a dedicated R&D centre and a USFDA-approved manufacturing plant for animal health products. The facility includes dedicated oral solids and liquids capabilities tailored specifically for the veterinary generics market. 'Healthcare has been a long-standing focus for us, and strong parallels we see between success in human Gx [generics] globally and emerging opportunity in animal health Gx,' said Shweta Jalan, managing partner at Advent. 'Felix is well positioned to lead this space with its strong leadership, broad portfolio, and robust R&D and commercial capabilities,' she said. The deal comes amid a sharp rise in global demand for animal drugs, as pet ownership and spending on pet healthcare rise across geographies. Advent has been actively investing in Indian healthcare and financial services. In April 2024, it acquired a 12.1% stake in Apollo Healthco, a unit of Apollo Hospitals, for ₹ 2,475 crore. Last year, it invested $230 million in Svatantra Microfin along with Multiples PE, and exited Bharat Serums and Vaccines, selling it to Mankind Pharma for ₹ 13,630 crore.
Hans India
9 hours ago
- Sport
- Hans India
SCR GM takes part in ‘Fit India Cyclothon'
Hyderabad: South Central Railways General Manager Arun Kumar Jain flagged off and pedalled in the 'Fit India Cyclothon' event along with team of SCR officials at Railway Sports Complex, Secunderabad on Sunday. The event was organised by SCR Sports Association as part of the Khelo India Scheme's FIT INDIA initiative under the aegis of Ministry of Youth Affairs & Sports to promote the culture of fitness across Railway work force and communities. Arun Kumar Jain complimented the sports association in taking up this appropriate and important initiative. He stressed on the importance of staying fit which is very important and need of the hour. 'The Fit India Movement campaign has really helped everyone in a big way to keep fit and healthy. Cycling is very good for health and nowadays, many people in other countries are cycling to maintain fitness. Cycling is an environment friendly activity and improves health also,' he said. Neeraj Agrawal, Additional General Manager, SCR, Bhartesh Kumar Jain, Divisional Railway Manager, Secunderabad Division, Senior Railway Officials, SCR Sports Association Officials and SCR Sportsmen were amongst those participated. The Union Ministry of Youth Affairs & Sports and Labour & Employment has taken up the Fit India Cycling drive. Envisioned by Prime Minister as People's Movement, the FIT INDIA Movement is an endeavour to involve citizens of the country to make India a fit nation.
