19 January 2023 | News
For increasing market share and further positioning Synokem as an industry leader
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TA Associates, a global growth private equity firm, has completed a strategic growth investment in Synokem Pharmaceuticals. The founders will continue as shareholders in the company alongside TA.
Founded in 1983 by J.M. Arora, Synokem Pharmaceuticals is one of India’s leading contract development and manufacturing organisations (CDMOs), serving customers in the branded generic domestic formulations market. In addition, the company’s products are exported to more than 30 countries. Synokem is based in New Delhi, with manufacturing and R&D facilities in Haridwar.
According to Dhiraj Poddar, Managing Director and Head of Indian operations for TA Associates Advisory, “The company has delivered numerous first-to-market products which is further indicative of its industry-leading position. We believe Synokem can serve as a high-quality producer of pharma products, not just for India but also for international markets."
“With industry expansion being driven by both demographic and economic factors, including higher health insurance penetration and affordability, we believe there is a strong opportunity to build on Synokem’s momentum and further expand its capabilities,” added Vishal Gupta, Director at TA.
Financial terms of the transaction were not disclosed. TA is represented by AZB & Partners. BDA Partners acted as the financial adviser to Synokem.