The investment is stated to accelerate Caplin Point's subsidiary's efforts to cater to the growing demand for injectable pharmaceutical products in the regulated markets such as the US and Europe.
Pharmaceutical company Caplin Point today announced receiving an investment of Rs 218 crore for its injectables subsidiary, Caplin Steriles, from Eight Roads Ventures, the proprietary investment arm of FIL (Fidelity International Limited), and F-Prime Capital.
This investment is stated to accelerate Caplin Steriles' efforts to cater to the growing demand for injectable pharmaceutical products in the regulated markets such as the US and Europe.
In a press statement, CC Paarthipan, Chairman, Caplin Point, said, “We are at a stage in our regulated markets journey where we believe that the business is now well-positioned to evolve and thrive as a separate entity. We are expanding capacities to cater to growing demand from these regulated markets for sterile products, and working on the development of complex generic injectable products in-house. Both these efforts will unlock great value in the long run. We are excited to extend our journey from a road less-travelled (South America) to a road well-travelled (North America) with Eight Roads Ventures and F-Prime Capital as investment and knowledge partners, given their excellent track record worldwide and particularly in healthcare."
Founded in 1990 by Paarthipan, Caplin Point caters predominantly to the emerging markets of Latin America and Africa. It claims to have state-of-the-art manufacturing facilities for a complete range of finished dosage forms.
The company has also entered regulated markets such as the US through its injectables unit and ophthalmics facility that is approved by the US FDA and EU-GMP.
“This is a unique opportunity for us to partner with Caplin Point to build a world-class platform in India to develop and manufacture injectable drugs. Over 70 percent of generic drug shortages in the US continue to be attributable to injectables. Through our combined experience and resources, we aspire to create a leader in this segment, providing affordable, differentiated products for patients,” Prem Pavoor, Partner at Eight Roads Venture India, said.
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