PI Industries Limited successfully acquires Therachem Research Medilab LLC

PI Health Sciences Limited (“PIHS”), a 100% subsidiary of PI Industries Limited (“PI Industries”), one of India’s leading players in Agri-sciences and CSM industry, has acquired the Indian subsidiaries and assets of Therachem Research Medilab LLC (“TRM”)

Incorporated in 1947, PI Industries (BSE: 523642, NSE: PIIND, ISIN ID: INE603J01030) has been a leader in Agri-sciences segment. It is known for best-in-class manufacturing, quality, and EHS practices. It is on a strategic path of diversification and envisions the Pharma vertical as one of the key pillars for future growth. This acquisition is aligned with its strategic objective of building a differentiated CDMO offering across the pharma value chain.

TRM is a Contract Research Organisation (CRO) that has capabilities in medicinal chemistry, process research and development and specialises in rare diseases segment. It has manufacturing facilities in India and R&D facilities in India and the US. TRM’s R&D team works closely with marquee publicly listed US biotech companies and big pharma companies based in Asia-Pacific in developing their product pipeline.

Rajnish Sarna, Joint Managing Director of PI Industries Ltd said, “Under the visionary leadership of Dr Pooran Chand, TRM has built a strong R&D capability driven business. Acquisition of TRM with its complex chemistry skillset and unique clientele is in line with PI’s long-term strategy to venture into the Pharma space. I complement PI’s leadership team and external advisors who were painstakingly involved in fructifying this opportunity for last several months for successfully completing this task”.

This deal marks o3 Capital's 11th deal closure in the Healthcare & Lifesciences space in the last 18 months. The deal reiterates o3 Capital’s strong credentials in the Healthcare and Lifesciences segment (53 deal closures till date) and our ability to consummate deals in the API and CDMO space within the Lifesciences industry.