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RK Pharma to Receive $200M Investment from PAG

To help ensure that RK Pharma can accelerate growth plans, partnerships, and develop/launch further innovative medicines.

By: Anthony Vecchione

RK Pharma Inc, a vertically integrated pharmaceutical company, will receive an investment of $200 million from PAG, a global investment firm.

RK Pharma is engaged in the development, manufacture and sale of affordable generic pharmaceutical products with a particular focus on complex injectables. RK Pharma has a sterile drug product manufacturing facility in Pearl River, NY. RK Pharma group of companies include subsidiaries Apicore, Archis Pharma and Aktinos Pharma. Apicore and Aktinos provide a rich supply of complex APIs (active pharmaceutical ingredients) and intermediates; and Archis Pharma is the commercialization arm of the RK Pharma Group.

Ravishanker Kovi, founder & Executive chairman of RK Pharma and his executive management team will be partnering with PAG. Kovi is a biomedical researcher and drug developer with an established record of bringing drugs to market. As co-founder & CEO of Apicore, a U.S. based developer and manufacturer of specialty pharmaceuticals, he created a portfolio of more than 50 drug substances and drug products which was subsequently sold to Mylan in 2017.

RK Pharma is PAG’s fifth India-focused private equity deal in recent years. Other notable investments include Nuvama, India’s second largest independent wealth manager; Gamot API, a platform for investing in leading API companies; and Acme Formulation, a leader in contract development and manufacturing outsourcing (CDMO) pharmaceuticals. PAG has invested more than $1.5 billion in India in the last few years.

Kovi said, “We are pleased to be partnering with PAG, an established investment firm with a successful track record of supporting leading companies in the pharmaceutical space. This transformative investment by PAG would help ensure that RK Pharma can accelerate its growth plans, partnerships, and develop/ launch further innovative medicines for the benefit of patients; and strengthen RK Pharma’s position as a leading fully vertically integrated specialty injectable and ophthalmic pharmaceutical company.”

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