RK Pharma completes acquisition of VGYAAN Pharmaceuticals
RK Pharma, a vertically integrated pharmaceutical company, has completed its acquisition of VGYAAN Pharmaceuticals.
“The acquisition of VGYAAN Pharmaceuticals aligns strongly with our growth strategy that will deliver substantial value for our company, customers and strategic partners,” said Ravishanker Kovi, founder and executive chairman of RK Pharma. “With this acquisition, RK Pharma will gain an exciting product portfolio, meaningful partnerships with strategic partners, and a proven team with an impressive track record.”
“We are thrilled to be part of RK Pharma,” said Nailesh Bhatt, CEO and founder of VGVAAN Pharmaceuticals. “With RK Pharma’s robust capabilities in complex product development, state-of-the-art manufacturing capabilities of APIs and finished dosages, vertical integration and large global footprint, we will continue on our mission of bringing clinically critical therapies to market to serve patients.”
[Read more: FDA approves 2 generics from VGYAAN Pharmaceuticals]
George Thomas, CEO of RK Pharma said, “We look forward to Nailesh Bhatt and Nimisha Bhatt continuing with us at VGYAAN Pharmaceuticals as CEO and chief operating officer, respectively, as we build on VGYAAN Pharmaceuticals’ patient-focused platform of products and strategic partnerships.”
“In the world where drug shortages and supply chain disruptions have become frequent and more common, we feel strongly that our joining hands with RK Pharma will enable us to bring high quality drugs with a dependable supply chain to market,” added Nimisha Bhatt, COO and co-founder of VGYAAN Pharmaceuticals.
This acquisition follows RK Pharma’s recent announcement of an investment of up to $200 million from PAG, a leading global investment firm.
[Read more: Challenges continue, but generics companies see a bright future with biosimilars]
Terms of the deal have not been disclosed.
Sheppard, Mullin, Richter and Hampton acted as legal counsel to RK Pharma, and Blank Rome acted as legal counsel to VGYAAN.