Quest Enterprises to acquire API biz

Multi-sector investment firm IQuest Enterprises will acquire the active pharmaceutical ingredients (API) business of Viatris in India for an undisclosed amount.

The investment firm has entered into a definitive agreement to acquire the API operations of global pharmaceutical major Viatris in India, IQuest Enterprises said in a statement on Monday.

IQuest emerged as the preferred investor following a global competitive bid, it added. As part of the deal, the company will acquire six API manufacturing facilities, three each in Vizag and Hyderabad, an R&D facility in Hyderabad, and third-party API sales.