Mumbai based PAG, a leading Asia-focused private equity firm has announced that along with consortium partners CX Partners and Samara Capital, it had reached an agreement to acquire a controlling stake in Anjan Drug Pvt. Ltd., a Chennai-based manufacturer of active pharmaceutical ingredients (API).

Founded by C Kalaichelvan in 1990, Anjan is a leading supplier of active drug ingredients in the central nervous system therapy segment to some of the world’s largest pharmaceutical companies, in markets including the US, Canada, Brazil and Europe.

The acquisition is part of the PAG-led consortium’s strategy to create a best-in-class platform for the development and production of bulk drug ingredients. 

With the Anjan deal, the PAG-led consortium is moving towards the creation of a platform to tap into the consolidation opportunities in India’s high-growth API manufacturing industry.

PAG is one of the world’s largest Asia-focused private investment firms, with a network of 200 seasoned investment professionals in nine key offices in Asia and around the world. With experience across industries and market cycles, PAG delivers value to investors by seeking out leading companies and investing to help them reach their full potential. The firm invests globally with a primary focus on the Asia-Pacific region.