Saraf & Partners has advised global healthcare company Viatris on the sale of its Active Pharmaceutical Ingredients (API) and women’s healthcare businesses in India for a total consideration of $1.2 billion.
Viatris has agreed to divest its API business in India to Iquest Enterprises, an Indian pharmaceutical company. The transaction includes three manufacturing sites and an R&D lab in Hyderabad, three manufacturing sites in Vizag and third-party API sales. Viatris will retain some selective R&D capabilities in API.
Canonsburg, Pennsylvania-headquartered Viatris has also agreed to divest its women's healthcare business, primarily related to oral and injectable contraceptives, to Insud Pharma, a leading Spanish multinational pharmaceutical company. The transaction includes two manufacturing facilities in India: One in Ahmedabad and one in Sarigam.
Saraf’s team was led by managing partner Mohit Saraf, along with senior partner Bikash Jhawar and partner Nipun Vaid. Partner Akshayy S Nanda adviced on competition-related aspects of the deal, while partner Sahil Arora contributed insights on foreign direct investment (FDI) considerations. Partner Amit Gupta offered guidance on the deal's tax-related aspects, and partner Akshay Jain advised on employment law matters inherent to the transaction.
“On account of criticality of the pharmaceutical sector for public health, the firm ably identified business continuity issues and provided workable solutions to ensure no disruption occurs at the time of transition of business to buyers,” Saraf & Partners said in a statement.
