Venture Capital Fund

Shilpa Medicare

Shilpa Medicare, a bulk drug manufacturing company, focuses on manufacturing Active Pharmaceutical Ingredients (API) for the niche Oncology segment. The Company is only the third party manufacturer of APIs for the Oncology segment in India. It has long term contracts to supply APIs to international pharmaceutical firms such as Midas, Apotex, Cobalt, Transopharma, Helm etc and domestic companies such as Ranbaxy, Intas, Dabur and Cipla. Exports constitute over 60% of its annual revenues and its products are exported to Europe, USA, Middle East and Japan. Shilpa has filed for patents for two of its products and has developed a non-infringing process for a third product in the Oncology segment. The Company is in the process of setting up a new cGMP facility to manufacture oncology products, which will enable it to obtain approvals for its products from EDQM- France, UK MCA, TGA Australia, Health Canada and USFDA. Leveraging its strong R&D, the Company is focusing on moving up the value chain and evolving into a CRAMS model (focused on the Oncology segment).

This investment has since been exited.