Maiva Pharma, a prominent player in the pharmaceutical industry, is embarking on a transformative journey with a recent infusion of ₹1,000 crore in funding. This significant investment, led by Morgan Stanley Private Equity Asia and India Life Sciences Fund-IV, underscores Maiva Pharma’s commitment to innovation, quality, and growth.
A Strategic Investment for Growth
The recent funding secured by Maiva Pharma marks a major milestone in the company’s trajectory. With a mix of primary and secondary funding, Maiva Pharma has gained the funds to establish a new manufacturing plant near Hosur, Tamil Nadu. This strategic investment signifies the confidence of leading private equity firms in Maiva Pharma’s growth.
Bhaskar Krishna, Managing Director and Chief Executive at Maiva Pharma, affirms, “This fundraise will be used to add more vial, lyophilization, and suspension capacity and introduce new manufacturing capabilities such as prefilled syringes, cartridges, and bags.”
Elevating Manufacturing Capabilities
Maiva Pharma’s decision to expand its manufacturing capacities comes at a pivotal moment for the pharmaceutical industry. Focusing on sterile dosage forms, including pre-filled syringes, bags, oncology, and hormonal injectables, the company is poised to meet the evolving needs of the market.
This expansion aligns with Maiva Pharma’s commitment to providing quality CMDO services to its global clientele. As Bhaskar Krishna emphasizes, “This fundraise will be used to add more vial, lyophilization, and suspension capacity and introduce new manufacturing capabilities such as prefilled syringes, cartridges, and bags.”
Building on a Legacy of Excellence
Founded in 1993, Maiva Pharma has earned a reputation as a trusted partner for large pharmaceutical companies. The company focuses on contract manufacturing of sterile injectables for regulated markets. It has garnered recognition for its unwavering commitment to quality and compliance.
Maiva Pharma’s existing plant in Hosur has been instrumental in producing sterile injectables in vials and lyophilized vials, catering to a diverse portfolio of over 75 products. Through strategic partnerships and a customer-centric approach, Maiva Pharma has established itself as a key player in the pharmaceutical landscape.
Strategic Partnerships and Industry Recognition
The partnership between Maiva Pharma and leading private equity firms underscores the company’s strategic vision and potential for growth. In fact, Morgan Stanley Private Equity Asia recognizes Maiva Pharma as a leader in injectables manufacturing in the Asia-Pacific region.
Nirav Mehta, Managing Director and Co-head at Morgan Stanley Private Equity Asia, states, “We believe that the injectables CDMO market is poised for strong growth and Maiva is well positioned to emerge as one of the leading independent players supplying regulated markets.”
Driving Financial Growth
Maiva Pharma’s commitment to excellence extends beyond its manufacturing capabilities to its financial performance, demonstrating robust growth and profitability year over year.
The company reported impressive net sales of Rs 207 crore for the fiscal year 2022-23. This marks a significant increase from Rs 162 crore the previous year. This growth in net sales shows Maiva Pharma’s ability to meet the evolving demands of the pharmaceutical market.
Enhanced Profitability and Efficiency
In addition to its remarkable sales growth, Maiva Pharma has also demonstrated enhanced profitability and operational efficiency. The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) witnessed a substantial rise to Rs 63 crore during the period under review. This can be compared to Rs 43 crore in the previous fiscal year. This notable increase in EBITDA reflects Maiva Pharma’s proactive measures to optimize its operations, streamline costs, and drive sustainable growth.
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Continued Momentum and Future Outlook
Looking ahead, Maiva Pharma aims to maintain its momentum and capitalize on emerging opportunities in the pharmaceutical industry. The company has a reported revenue of about Rs 300 crore in FY24. This shows that Maiva Pharma is on a trajectory of sustained growth and expansion. With a new manufacturing facility, the company is well-positioned to capitalize on emerging opportunities in the pharmaceutical industry.
As Bhaskar Krishna asserts, “Under Bhaskar’s leadership, Maiva has put in place building blocks for future growth with a customer-centric approach, sharp R&D focus and an emphasis on maintaining high quality standards.”
Maiva Pharma’s expansion journey shows dedication to excellence and innovation. With leading private equity firms’ support and commitment to quality, it’s set to redefine injectables manufacturing. As the company eyes the future, it’s committed to driving growth. It aims to foster strategic partnerships and deliver value to stakeholders. Witnessing Maiva Pharma’s evolution reminds us of the transformative power of vision and collaboration in healthcare and pharmaceuticals.
