India's Samara acquires drug portfolio from Novartis
Samara Capital Partners has acquired the Indian rights to a portfolio of drug brands from Swiss pharmaceutical company Novartis.
Financial details of the transaction were not disclosed. The portfolio mainly comprises anti-infective drugs aimed at women, and includes exclusive rights to Cofvector, Monkezin and Glyred and a license for Curam, Foristal and Gretacal.
According to a release, the brands will be marketed by Oaknet Healthcare, a Samara investee founded by former executives from Indian pharmaceutical maker Lupin. Samara expects the brands to strengthen Oaknet's existing portfolio and strengthen its coverage of women's health. The GP will continue to look for further drug acquisitions in the dermatology and gynecology space.
This is Samara's second bolt-on for Oaknet: last year the firm acquired the Indian division of South African drugmaker Adcock Ingram Holdings for INR1.51 billion ($22.7 million). The deal brought the entire portfolio of Adcock Healthcare, the parent company's Indian pharmaceutical marketing and distribution subsidiary, under Oaknet's management.
Samara is currently investing its second fund, which launched in 2012. The vehicle is sector agnostic, but Samara prefers to invest in the healthcare, consumer, and financial services spaces. Previous healthcare investments from the vehicle include a $25 million commitment to medical device manufacturer Sahajanand Medical Technologies last year.
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