Malaysia’s state-owned personal equity company Ekuiti Nasional Bhd (Ekuinas) revealed that it has actually obtained an 80% stake in active pharmaceutical active ingredient (API) producer Symbiotica Specialty Ingredients (Symbiotica.
Ekuinas, nevertheless, did not reveal the worth of the acquisition, which marks its 3rd financial investment in the pharmaceutical sector.
Its present portfolio consists of Medispec (M) Sdn Bhd, a regional pharmaceutical and supplement item supplier; and Cliffe Sdn Bhd, which owns a chain of 28 Kaisar Farmasi outlets, primarily focused in the Klang Valley.
Ekuinas CEO Syed Yasir Arafat stated the pharmaceutical market is a considerable financial factor with amazing development capacity.
Developed in 2001, Symbiotica produces corticosteroid and steroid hormonal agent API. The business, based in Seberan Perai in Penang, declares to be among the couple of API producers in Southeast Asia with know-how in this specific niche.
The business serves clients in Malaysia and more than 70 other nations, with a portfolio of over 70 API items.
Symbiotica handling director Ajoy Prabhu stated the acquisition will assist the business broaden its production capability and abilities as it likewise concentrates on research study and advancement.
The acquisition comes as Ekuinas stated the marketplace for corticosteroids, steroid hormonal agents, and non-steroidal APIs stood at $36 billion in 2023 and is predicted to grow at a compounded yearly development rate of 6.7% by 2027.
“There are clear methods in location and we eagerly anticipate taking the business to its next level of development and adding to the wider development of Malaysia’s pharmaceutical sector as the leading API business in SEA,” Arafat stated.
Developed in 2009, Ekuinas purchases Malaysia-based services, with a focus on core sectors such as education, oil and gas, fast-moving durable goods (FMCG), retail and leisure, health care, and services.
To date, Ekuinas has actually carried out 71 financial investments, out of which 48 are direct financial investments and 23 through outsourced fund supervisors.