Maiva Pharma raises Rs 1000 crore from Morgan Stanley Private Equity, InvAscent

Bengaluru-based Maiva Pharma has raised Rs 1,000 crore in primary and secondary funding from a fund managed by Morgan Stanley Private Equity Asia and India Life Sciences Fund – IV (ILSF – IV), which have jointly acquired a controlling stake from existing investors and infused primary capital in the company.

New manufacturing facility planned near Hosur

The funding will be used to establish a new manufacturing facility near Hosur, Tamil Nadu, focusing on sterile dosage forms, including pre-filled syringes, bags, oncology, and hormonal injectables.

Maiva already has a USFDA-approved facility at Hosur, manufacturing sterile injectables in vials and lyophilized vials.

Maiva's growth plans  

Maiva Pharma’s CEO, Bhaskar Krishna, said, “Over the last three years, Maiva has quadrupled its manufacturing capacity for US, Canada, and EU markets. Based on continued strong interest from customers in partnering with Maiva, we will expand at a greenfield site near Hosur. This fundraise will be used to add more vial, lyophilisation, and suspension capacity and introduce new manufacturing capabilities such as prefilled syringes, cartridges, and bags.” 

He also expressed enthusiasm for the new partnership: "We are delighted to work with Morgan Stanley and InvAscent and we look forward to benefitting from their extensive experience in the healthcare space and their global reach."

Injectables CDMO market poised for growth  

Nirav Mehta, managing director and co-head at Morgan Stanley Private Equity Asia, highlighted the growth potential in the injectables CDMO market, stating, “We believe that the injectables CDMO market is poised for strong growth and Maiva is well positioned to emerge as one of the leading independent players supplying to regulated markets.”

Sumit Gupta, managing director of InvAscent, emphasized Maiva’s strengths, noting, “Complex injectables development and manufacturing capability, strong compliance and regulatory standards along with transparency and leadership, differentiate Maiva from its competitors. We are delighted to partner with Maiva in its vision to become a global leader in sterile injectables.”