Pune, May 4 (IANS) Leading drug-maker Brinton Pharmaceuticals Ltd on Thursday said Tata Capital Healthcare fund has invested four million dollars (Rs 25.7 crore) for a minority equity stake in the company.
“The investment will support our entry into newer areas such as pediatric and gynaecology segments and expand international operations to 32 countries from eight presently,” said the company in a statement here.
The city-based pharma major provides healthcare products and services to therapeutic segments and meet the unmet medical needs of the people across the country.
“As the market for dermatology and cosmeceuticals in the therapeutic segments are growing at 15 per cent CAGR annually, research and development will make innovations in the domain possible. Being at the cusp of transformation, we have taken a therapy-focused approach to growth,” said Brinton Managing Director Rahul Darda in the statement.
Partnership with a focused healthcare fund (Tata Capital) is expected to further the company’s growth prospects.
Brinton’s Vice-President Vijey Christopher said on the occasion that the Tata Capital investment was a testimony to the pharma’s robust foundation.
“We are optimistic about the future and have a roadmap in place to cross Rs 300 crore in the dermatology segment by FY 2021,” said Christopher.
“With a strong brand proposition, Brinton will make a dent in the dermatology space, as the investment will strengthen its growth strategies,” said Citadel Management Consulting Founder and Chief Executive Vijay Dutta in the statement.
The three-year-old drug company, which develops products anticipating patient requirements, has rolled out 14 brands in the country.
The company also has overseas operations in eight countries, including majorly in French-speaking countries in Central and West Africa, Bangladesh, Nepal and Sri Lanka.
This is published unedited from the IANS feed.