Companies

ZNZ Pharma buys majority stake in Celon Laboratories

Our Bureau Hyderabad | Updated on November 23, 2020 Published on November 23, 2020

ZNZ Pharma, a newly incorporated London-based biopharmaceutical platform, has acquired a majority stake in Celon Laboratories Private Limited, a Hyderabad-based specialty generics company with presence in India and emerging markets.

The pharma platform is backed by CDC Group, the UK’s publicly owned impact investor, Development Partners International (DPI) through its ADP III fund and the European Bank for Reconstruction and Development (EBRD).

The platform company is co-founded by Hocine Sidi-Said, Chief Executive Officer and Alhadi Alwazir, Chief Strategy Officer and Head of Corporate Development, both of whom have been inducted to the Board of Directors of Celon Labs.

“The platform is planning to invest about Rs 200 crore in Celon’s development of a new oral and injectable manufacturing facility for both critical care and oncology that will serve a wider set of markets. We will continue to focus on our core focus areas of oncology, and critical care,” Middey Nagesh Kumar, MD and CEO of Celon Labs told Business Line.

Last fiscal ended March 2020, Celon Labs closed with revenues of over Rs 200 crore.

“This strategic partnership will drive the growth of Celon Labs in the coming years. The primary investment by our new shareholders will help Celon expand its capabilities and capacities to match market opportunities in both therapeutic segments on a much larger, global scale.” Nagesh Kumar said.

Founded in 2007 by Vimal Kumar Kavuru and Vijay Kumar Vasireddy, Celon Labs is engaged in the business of manufacturing, marketing and distributing specialty pharmaceutical products in the oncology and critical care segments. It employs 520 people and sells its products in India and over 45 countries in the emerging markets.

Citadel Management Consulting, an investment banking firm was the exclusive advisor to Celon on the transaction.

 

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Published on November 23, 2020
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