New York private equity firm Warburg Pincus has invested $92 million in Laurus Labs Private Ltd., an Indian pharmaceutical company.
Laurus, headquartered in Visakhapatnam, India, develops and manufactures active pharmaceutical ingredients that are used for anti-retroviral, oncology, cardiovascular and anti-diabetic drugs.
Warburg, through an affiliate, is picking up a minority stake in Laurus. The company also counts Fidelity Growth Partners India and Boston-based Fidelity Biosciences as investors. Terms of the deal were not disclosed.
Warburg Pincus has more than $39 billion in assets under management. In May, the firm bought aerospace parts supplier Wencor Group from Odyssey Investment Partners. Warburg also closed an $11.2 billion fund in May.
Jefferies was Laurus’ financial adviser for the deal.
Other recent pharmaceutical deals include Capricor Therapeutics Inc.’s purchase of heart failure-related patent rights from Medtronic, and OnCore Biopharma Inc.’s acquisition of Enantigen Therapeutics Inc.
For more on trends in health care, see 5 Technologies Drive Health Care M&A.