Multiples-backed BDR Pharma buys control of Acme's oral solids unit

BDR Pharmaceuticals International is acquiring a controlling stake in the oral solid formulations business and subsidiaries of Acme Formulation from existing investors, including private equity firm PAG, the companies said in a statement on Monday. A person familiar with the matter said the transaction is expected to value the business at about $250 million.

BDR Pharma is a global integrated complex generics platform founded in 2003, with finished formulations and active pharmaceutical ingredients. It is backed by Multiples Private Equity and partners with pharmaceutical companies in India and internationally. BDR said the deal adds thyroid, female sex hormone and general pharmaceutical products, and deepens its CDMO platform in women's healthcare and thyroid therapies.

BDR chairman and managing director Dharmesh Shah said Acme would strengthen the CDMO platform and add differentiated capabilities. PAG and Acme founder Viral Shah will retain full ownership of Immacule, a sterile injectables contract manufacturer. O3 Capital acted as exclusive financial adviser to BDR Pharma.