Tata Capital on Friday said one of its arms has invested $20 million in Orbicular Pharmaceutical Technologies for an undisclosed stake. Tata Capital Healthcare Fund II has made the investment in the Hyderabad-based specialty pharmaceutical company and the proceeds will be utilised for accelerating product development, as per a statement.
The statement said the $60 billion specialty generics industry is expanding rapidly driven by increasing demand for cost-effective alternatives to complex and high-cost branded medications, and Orbicular has a pipeline of niche products in the specialty generics space catering to the demand.
"This investment reinforces our fund's core philosophy of identifying the big shifts in the industry and being a 'capital plus' partner to our companies," the fund's Managing Partner Visalakshi Chandramouli said.
"Having positioned Orbicular as a differentiated specialty pharmaceutical company in the complex generics space, the investment will further strengthen our global partnerships," the company's Managing Director M S Mohan said.
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