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Franklin Templeton Private Equity Strategy has invested close to Rs 45 crore in Symbiotec Pharmalab Ltd, said a company release. However, the transaction details were not disclosed.
The funds raised will be applied towards backward integration by setting up of fermentation facilities which is expected to improve Symbiotec’s competitive positioning and profitability. This will help the company in reaching out to customers in the US, Europe and Japan as well, said the release.
Symbiotec is engaged in research, development, manufacturing and marketing of research based Active Pharmaceutical Ingredients for corticosteroids and hormones. It has an extensive product portfolio and supplies its products to leading pharmaceutical companies in India and overseas such as GSK Pharmaceuticals, Teva, Ranbaxy and Cipla.
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