IQuest Enterprises will purchase the healthcare operations of Viatris in India for $1.2 billion

 IQuest Enterprises will purchase the healthcare operations of Viatris in India for $1.2 billion

The API transactions are anticipated to be completed by Viatris, which was created from the union of Mylan and Upjohn (a division of Pfizer), in the first quarter of 2024.

The active pharmaceutical ingredient (API) and women's healthcare operations in India are being sold by Viatris Inc, a multinational healthcare company, for a total price of $1.2 billion.

It will sell the API business to the particular multi-sector investment firm IQuest Enterprises as well as the women's healthcare organization to the Spanish drug firm Insud Pharma.

The API transactions are anticipated to be completed within the first quarter of 2024, according to Viatris, which was created through the merger of Mylan and Upjohn (a Pfizer company).

The agreement with IQuest comprises third-party API sales, three manufacturing facilities, an R&D lab, and three manufacturing facilities in Vizag. Viatris continued by saying that it would keep certain limited R&D skills.

IQuest revealed that after a global competitive offer, it was chosen as the preferred investor.

When IQuest Enterprises was operating as a division of Matrix Labs, which was sold to Mylan in 2006, a sizeable portion of the crew was involved with some of the current facilities.

A multi-sector investment firm is IQuest Enterprises. It has made investments in a number of businesses, including Celon Laboratories, CARE Hospitals, and AIG Hospitals.

"Our biggest investment in the pharmaceutical industry to date excites us. In the global pharmaceutical sector, India is currently receiving a lot of attention, therefore our investment is timely,'' said Gunupati Swathi Reddy, executive director of IQuest Enterprises.

According to Viatris, it has also signed a contract to sell Insud Pharma its women's healthcare business, which principally consists of oral and injectable contraceptives.

Two manufacturing sites in India are part of the transaction; one is in Ahmedabad and the other is in Sarigam, Gujarat.

The deal is likewise anticipated to be completed in the first quarter of 2024.

Up to 12 buildings and more than 6,000 employees, or 15% of the company's global workforce, may be transmitted (moved to other companies) under the conditions of today's announced divestitures, according to Viatris.

The company sold Biocon Biologics its biosimilars business in 2022.