BTS India invests $7 million in Chandigarh based Parabolic Drugs

BTS India

Mumbai-based SME-focused fund BTS India Private Equity Fund Limited has informed that it has invested US$ 7 million in Parabolic Drugs, a fast growing pharmaceutical company based in Chandigarh. This is the second investment by BTS group, a fund sponsored by Swiss Tec Group of Switzerland in the Indian pharmaceutical sector. It had earlier backed Arch Pharma Labs, a fast growing pharmaceutical company.

Parabolic Drugs, which has facilities at Derabbasi and Panchkula near Chandigarh, is a leading API company, manufacturing and marketing a broad range of APIs, and catering to Indian and international markets. It is amongst the leading players in the sterile SSP and Sterile Cephalosporin's in India and amongst few players in world to offer Penicillin’s, Cephalosporin’s & Sterile under one basket.

The company has obtained type II USFDA approval and Certificate of Suitability for some of its products. It is currently in the process of filing several DMFs and CEPs for further strengthening its exposure to the regulated markets both in Europe and United States.

The capital will be used for funding Parabolic's next level of growth and will be largely used for significantly expanding capacities for its existing and new products.

YES Bank was the sole strategic advisor to Parabolic for the transaction.

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