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Caplin Point Laboratories on Friday announced an investment in its injectables subsidiary, Caplin Steriles, by Eight Roads Ventures, the proprietary investment arm of Fidelity International Ltd, and its US-based sister fund FPrime Capital. Caplin Steriles will cater to the rapidly-growing demand for injectable products in the regulated markets, especially the US and Europe.
The $10-billion US generic injectables segment continues to be very attractive, driven by high barriers to entry on product development as well as regulatory compliance in manufacturing such sterile products. This has resulted in relatively lower competition and constrained online capacity in this segment.
Caplin Steriles has established a 550-person business with R&D facilities in Chennai and high-quality manufacturing infrastructure that is approved both by the US FDA and European regulatory authorities. The subsidiary has already filed eight ANDAs on its own and through partners with the US FDA, with two approvals. Shares of Caplin Point slumped 5.35 per cent at ₹402.20 on the BSE.
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