Carlyle's 20% Stake Gives Piramal Pharma 'War Chest' For Growth
Private equity group Carlyle has acquired 20% of Piramal’s pharma business for close to $500m, with the Indian group expected to use the capital raise to bolster organic and inorganic growth and deleverage the balance sheet.
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Plus recent deals involving BeiGene, Assembly Biosciences, Piramal, Medivant, Revitope, Junshi, JW Therapeutics, Eureka, Acepodia, Chiesi, Bayer, NewG Lab, AnHeart
With a proposed IPO, Gland Pharma’s parent company, Fosun Pharma, hopes to raise funds for its injectables business and possibly its COVID-19 vaccine. The move will also cut Chinese ownership against a backdrop of shaky relations between India and China. As investors warm up to pharma stocks, the timing seems right.
Also, deals involving Sumitomo Dainippon, Tolero, Boston Biomedical, Zai Lab, Turning Point, SciClone, EpicentRx, Yuhan, GI Innovation, Takeda, Carmine, HitGen, Morphic, CStone and Burning Rock.