Intas Pharma becomes most valuable privately held pharma company

Intas Pharma has emerged as India's most-valued privately-held pharmaceuticals company, at USD 3.5 billion (Rs 23,000 crore) following a private-equity transaction.

According to a report in the Times of India, PE firm ChrysCapital sold 3 percent stake in the company for Rs 690 crore.

A privately-held company is a firm that has less than 50 shareholders.

Intas is among India's top 10 pharma companies with annual revenues of Rs 6,600 crore (USD 1 billion) and has a 2.8 percent domestic market share.

The company was founded by Hasmukh Chudgar about 40 years ago. He still remains the chairman of the company, while his sons Binish, Nimish and Urmish are part of executive management.

After the transcation, ChrysCap's stake in Intas will come down to 3 percent: it is one of the most successful PE investments made in the country.

The PE firm had purchased 10 percent in the company for Rs 50 crore in 2005 and added another 6 percent subsequently. In 2014, it sold 10.16 percent in the company to Singapore Temasek Holding, valuing it at USD 1.5 billion making a 20-fold gain.

Intas has a 5.3 percent share in Indian chronic illness market and is ranked fourth largest pharma player as per IMS data. The company is also present in cardiovascular system, diabetology, gynaecology, respiratory care, gastroenterology and most other therapeutic segments.

Intas acquired Actavis UK and Ireland from Israel's generic drug giant Teva for USD 750 million in an all-cash transaction last year, boosting its international operations. The company garners 60 percent revenue from over 70 global markets.