Advent, a leading global private equity investor, announces a definitive agreement to invest $175 million in Felix Pharmaceuticals Pvt Ltd ("Felix"), a prominent player in the global market for generic pharmaceuticals for animals. This investment will encompass both primary and secondary elements, leading to a noteworthy minority ownership stake.

Based in Dublin, Felix is acknowledged as one of the fastest-growing producers and developers of off-patent medications for companion animals. Felix focuses on the development, manufacturing, and supply of medications to distributors and other branded generic firms for private labeling, especially within the United States market.

With a range that includes 14 products approved by the U.S. Food and Drug Administration (USFDA) and numerous additional products at different stages of review and development, Felix boasts the most comprehensive portfolio in the industry.

Shweta Jalan, Managing Partner at Advent says,  “Healthcare has been a long-standing focus for us, and strong parallels we see between success in human Gx globally and emerging opportunity in animal health Gx. Felix is well-positioned to lead this space with its strong leadership, broad portfolio, and robust R&D and commercial capabilities. Its rapid growth and high customer satisfaction make it a differentiated platform, and we are excited to support Neeraj and the Felix team in scaling it into a global franchise.”

Pankaj Patwari, Managing Director at Advent, says, “Felix has the potential to significantly impact the companion animal health generics market, which is still nascent, with generic players currently holding less than 10 percent of the market share.”

 

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"This presents a long-term growth opportunity. Our extensive experience in the pharmaceutical sector allows us to provide valuable insights, and we look forward to partnering with founder Neeraj to build the premier generic animal health company worldwide," adds Pankaj.