Laurus Labs Private Limited, a Visakhapatnam, India-based developer and manufacturer of active pharmaceutical ingredients (APIs), recently announced that an affiliate of Warburg Pincus, a global private equity firm, has acquired a minority stake in the company by investing approximately $92 million. Warburg Pincus joins Fidelity Growth Partners India (FGPI) and Boston-based Fidelity Biosciences, who led an earlier round of investment in 2012, as an investor in the company.

Laurus is a manufacturer of APIs for anti-retroviral (ARV), oncology, cardio-vascular, anti-diabetic therapeutic segments. The company also has a presence in nutraceuticals and several other products, with a customer base that spans top-tier generic pharmaceutical companies in India and abroad. In addition to the API business, the company has a fast-growing contract manufacturing business that caters to several generic and global pharmaceutical companies.

Dr. Satyanarayana Chava, founder and chief executive officer of Laurus said, “Laurus is at an important juncture in its evolution, having built a strong reputation in product development and manufacturing, delivering high-quality products to its customers and establishing a track-record of strong financial performance. We are glad to partner with Warburg Pincus in this phase of our growth where we will seek to continue the thrust on innovation and manufacturing excellence in offering cost-effective products and services and foraying into new business segments. In addition to securing growth capital, we look forward to leveraging Warburg Pincus’ deep domain expertise and global network of relationships to help enter new markets and add to our customer base.”