Laurus Labs Private Limited, a Visakhapatnam, India-based developer and manufacturer of active pharmaceutical ingredients (APIs), reports that an affiliate of Warburg Pincus, a private-equity firm, has acquired a minority stake in the company by investing approximately INR 550 crores ($92 million). Warburg Pincus will join Fidelity Growth Partners India and Boston-based Fidelity Biosciences, which led an earlier round of investment in 2012, as an investor in the company. Terms of the transaction were not disclosed.

Laurus is a manufacturer of APIs for anti-retroviral, oncology, cardiovascular, and anti-diabetic therapeutic products. The company also has a presence in nutraceuticals and several other products with a customer base that spans top-tier generic pharmaceutical companies in India and abroad. In addition to the API business, the company has a contract manufacturing business that serves several global generic and innovator drug companies​.

Source: Warburg Pincus