Our India Ventures team has invested in Caplin Steriles, the injectables subsidiary of Caplin Point, one of the fastest growing pharmaceutical companies in India. Eight Roads’ sister fund F-Prime Capital also participated in the $31 million round.
Caplin Point laboratories Limited was founded in 1990 by C.C. Paarthipan. Since then it has grown to become a leading provider of affordable, high quality pharmaceutical formulations in several emerging markets including Latin America and Africa, with over 2700 product registrations globally. Caplin Steriles, its subsidiary, will cater to the rapidly growing demand for injectable products in the regulated markets, especially the US and Europe.
C.C. Paarthipan, Chairman, Caplin Point Laboratories Limited, said: “We are at a stage in our regulated markets journey where we believe that the business is now well positioned to evolve and thrive as a separate entity. We are expanding capacities to cater to growing demand from these regulated markets for sterile products, and working on development of complex generic injectable products in-house. Both these efforts will unlock great value in the long run. We are excited to extend our journey from a road less travelled (South America) to a road well-travelled (North America) with Eight Roads Ventures and F-Prime Capital as investment and knowledge partners, given their excellent track record worldwide and particularly in healthcare.”
Dr. Prem Pavoor said about this latest investment: “This is a unique opportunity for us to partner with Caplin Point to build a world-class platform in India to develop and manufacture injectable drugs. Over 70% of generic drug shortages in the US continue to be attributable to injectables. Through our combined experience and resources, we aspire to create a leader in this segment, providing affordable, differentiated products for patients.”