360 ONE Asset acquires stake in OneSource Specialty Pharma
OneSource Specialty Pharma, a Contract Development and Manufacturing Organization that is rapidly growing, has sold a stake to 360 ONE Asset Management Private Limited, an asset management company considered to be the best in India. OneSource’s specialty services in regards to drug-device combinations, complex injectables, biologics and soft gelatin capsules are meant to be bolstered by this strategic capital investment.
Currently, OneSource has over 1,200 employees; over hundred are the scientists and technical specialists and five very highly automated manufacturing plants out of which four manufacturing plants got approved by the US FDA. Essentially, the business is one of the few CDMO’s in India with the capability to develop and manufacture advanced products such as GLP-1 medications or next generation biologics.
According to the chief executive officer of OneSource Specialty Pharma, Neeraj Sharma, he believes in the synergy of both companies, and the investment by 360 ONE Asset propels the growth of the firm.
However, the leadership of OneSource in large molecules, complex injectables, and drug-device blends has put it well to take the next phase of growth, in the words of Tarun Sharma, Fund Manager (Healthcare and Consumer) at 360 ONE Asset.
The Rs 600 crore investment comes on the heels of OneSource securing $95 million or roughly Rs 801 crore from domestic and overseas institutional investors and estimating the business at $1.65 billion of pre-money equity.
It is hoped that collaboration between 360 ONE Asset and OneSource Specialty Pharma will lead OneSource towards the goal of its international business venture in specialty pharmaceuticals.
