Avendus Capital advises Maiva Pharma on its INR ~1,000 crores fundraise from Morgan Stanley Private Equity Asia and India Life Sciences Fund

Anshul Gupta, Managing Director and Head, Healthcare Investment Banking at Avendus Capital said, “We are privileged to partner with Maiva Pharma, which has firmly established itself as India’s leading sterile injectables CDMO focused on global markets. Injectables drugs have consistently been in the US FDA drug shortage list and Maiva is well-positioned to become one of the leading players from India. With Bhaskar’s robust leadership, Morgan Stanley’s and InvAscent’s rich experience from investing in global pharma businesses, we believe Maiva has an exciting runway ahead. We continue to see strong sponsor interest in India’s healthcare sector and particularly in the CDMO theme as India is becoming a major outsourcing hub for pharmaceutical manufacturing and research related services.”

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, lyophilization, and suspension capacity and introduce new manufacturing capabilities such as prefilled syringes, cartridges and bags. 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.

"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. Under Bhaskar's leadership, Maiva has put in place building blocks for future growth with a customer-centric approach, sharp R&D focus and an emphasis on maintaining high quality standards. We are excited to be partnering with Maiva in its journey ahead.

We have known Bhaskar and team for more than a decade now and are very impressed with their journey to become a preferred injectables CDMO partner of choice for many of the large customers across US, Europe and other emerging markets. 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.