Headquartered in Pittsburg, Pennsylvania, Viatris, a global healthcare company, announced it has finalized two deals in India to divest its API and its women’s healthcare businesses for a combined consideration of around $1.2 billion.
Viatris will divest its API business in India to Iquest Enterprises, a privately held pharmaceutical company, based in Hyderabad, India, who emerged as the preferred investor following a global competitive bid.
The transaction includes a total of six large scale API manufacturing facilities, three each in Vizag and Hyderabad, an R&D facility in Hyderabad, as also third-party API sales. Viatris will retain some selective R&D capabilities in API. The transaction is expected to close in Q1 2024.
The women’s healthcare business, which primarily relates to oral and injectable contraceptives, was sold to Insud Pharma, a Spanish multinational pharmaceutical company. The deal includes two manufacturing facilities in India: one in Ahmedabad and the other in Sarigam, in Gujarat. This deal is also expected to close in Q1 2024.
Viatris CEO Scott A. Smith said, “I am very excited about today’s announcement as it marks an important milestone in the execution of our overall strategic plan.”
