BDR Pharma raises Rs 685 crore funds led by Multiple Private Equity
- ByStartupStory | May 18, 2022
BDR Pharmaceuticals, which manufactures COVID-19 approved drug Remdesivir has recently raised Rs 685 crore from an association of investors led by Multiple Private Equity with a 9.3% stake from this deal. After this deal, the pharma company is valued at $95 million. Other investors that participated in the round are Times Group, QRG Invest(Havells Family Office) along with Nishant Agarwal of Avighna Group.
Dharmesh Shah, the Chairman of the company said that they are looking forward to pacing up their journey with trusted investors who have a deep understanding of the field and provide first-hand experience in working with innovative and high-growth companies.
Manish Gaur, the MD and Head of Healthcare at Multiples said that this industry is highly promising in the country and it brings strong sector experience with investments in the companies. Animal health, Formulations and hospitals are the areas where the company has backed up with strong differentiation, high-quality entrepreneurs along with management teams.
The funds will be utilised to build more research and development capabilities in the current as well as the emerging areas in the manufacturing stream to enhance the degree of vertical integration. The company is founded in 2010 by Dharmesh Shah a Mumbai-based company that hit headlines during the pandemic for manufacturing two critical drugs Remdesivir, and Favipiravir due to which its income shot up to doubling to Rs 1137.71 crore in FY21 as compared to Rs 552.3 in FY20.
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