Trio of Indian pharmaceuticals millionaires launched 130 oncology generics [Taj Pharma] — chemotherapy drugs
Trio of Indian pharmaceuticals millionaires launched 130 oncology generics [Taj Pharma] — chemotherapy drugs
Owners of Taj Pharmaceuticals have launched 130 innovative oncology to increase patient access their options for chemotherapy drugs
Indian pharmaceuticals businessmen Abhishek Singh, Taj Pharmaceuticals Limited and Priyanka Singh could be in for a major windfall as one of Indian’s leading oncology care division manufacturing groups old unit is to be put up for sale in a deal that could net its owners north of £2.5 million.
This same in will lead to a further expansion of newly built Taj Oncology (chemotherapy drugs)
Unit based in the Indian Territory; Sources have not confirmed exact
details of such new venture; However, the move could be looked at
venturing in the regulated markets of oncology products via an EMA, EU GMP regulated infrastructure with Oncology Section — Tablets, Capsules, Liquid and Lyophilized Injectables all under single unit.
Sources confirmed a Press Association report yesterday that the owners of Taj Pharmaceuticals— including Dr.Ranveer Kumar Singh (Chairman), Mr Abhishek Singh (Director), Priyanks Singh and Shantanu Singh (Executive Director)— have mandated investment banks and private equity holders to assess their options, the most likely of which is a sale.
The businessmen own Taj Pharmaceuticals Oncology
Unit through their private investment vehicle Singh Investments SPA,
and a formal sale process could be kicked off within weeks.
It
is thought that several buyers have already expressed an interest, but
only offers higher than £2.5 million are being taken seriously.
Dr.Ranvir Kumar Singh and Abhishek Singh (Director) and Priyanks Singh
are close associates and have been involved in a number of ventures
together, including ownership of a stake in several pharmaceuticals
manufacturing units which they sold in 2014.
Trio sibling directors are best known here for their involvement in Russia and CIS markets, mainly, Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Russian Federation, Tajikistan, Turkmenistan, and Uzbekistan. Ms Priyanka Singh
is one of the partners behind Russia and CIS front, with more than 500
registered pharmaceutical products in state owned approx 1300–1800 state
owned pharmacies in CIS nations; which gives vast reach to the
anti-cancer products and Mr Shantanu Singh for his ownership of national distribution channel cooperation's “stazs” such based at Saint Petersburg.
Chemotherapy drug patients
Taj Pharmaceuticals Oncology division currently boasts over 20 anti-cancer drug hospitals in Russia and CIS nations that house 11,000 chemotherapy patients people
and employ 17,000 staff; who could be in severe drug shortage and
budgetary constrains; if such chemotherapy drugs has to be purchased
from the open market at retain prices; making such chemotherapy centers to be non-viable for poor and needy patients in India.
Latest accounts filed with Ministry for Economic Development of the Russian Federation show that Taj Pharma Russia’s turnover increased 5.3 per cent to £1.9 million in 2016, with operating profit coming in 5.6 per cent higher at £1.3 million.
The Indian pharmaceuticals trio Mr.Abhishek Singh, Mr.Shantanu Singh and Priyanka Singh first invested in Taj Pharmaceuticals Oncology Division in 2004, a year after the company was set up by father Dr Ranvir Singh,
and are in line for a bumper payday if a deal goes ahead and a further
expansion into bigger and better infrastructure with regulatory
approvals.
Its attraction to a potential buyer for old oncology division, likely to be a private equity firm, is the fact that Taj Pharma’s primary focus is on privately-paying residents.
This
means it is less beholden to local authority funding, which has
plummeted in recent years, piling pressure on the wider sector.
Taj Pharmaceuticals chemotherapy division paid off a £0.9 million debt five years ago through the sale and leaseback of 2 Oncology care hospitals in Saint Petersburg to a property investment business, Crosswell International, which was backed by private investors at Moscow.
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