Everstone Group buys 70% in drug delivery tech firm

The Everstone Group has bought a 70% stake in Mumbai-based Rubicon Research Pvt Limited, a pioneering drug delivery technology company in India, for a total outlay of Rs 220 crore (US$ 33 million). Along with a $ 20 million investment directly into the business, the deal includes acquiring stakes from Kotak Private Equity and a private investor, Everstone said in a statement.

Rubicon is a world-class outsourcing partner to the global pharmaceutical industry whose proprietary technologies provide solutions for bioavailability enhancement, gastric retention, taste masking, and customising the release profiles of drugs.  Rubicon also offers lifecycle management services for pharmaceutical products.

Rubicon also has a US FDA-approved manufacturing plant with a capacity of 800 million tablets and it has refocused its business on creating its own Abbreviated New Drug Applications (ANDAs)/New Drug Applications (NDAs) for the global market.