PE firm PAG-led group to buy pharma firm Anjan Drug for undisclosed sum

Target company makes and supplies active pharmaeutical ingredients in the central nervous system space to some of the world's largest drug makers

PAG, a leading Asia-focused private equity firm, along with consortium partners CX Partners and Samara Capital, has reached an agreement to acquire a controlling stake in Anjan Drug Pvt Ltd, a Chennai-based manufacturer of active pharmaceutical ingredients (API). Terms of the deal were not disclosed.

The company founded by C Kalaichelvan in 1990 is a leading supplier of active drug ingredients in the central nervous system therapy segment to some of the world’s largest pharmaceutical companies in the US, Canada, Brazil and Europe, among other markets.

The acquisition is part of the PAG-led consortium’s strategy to create a best-in-class platform