Transaction: L&L Partners Law Offices advised the Carlyle Group (“Carlyle”), on setting up an integrated generic pharmaceuticals platform, known as Viyash Life Sciences Private Limited in partnership with ex-Mylan senior executive, Dr. Hari Babu Bodepudi and ex- founder of Laurus Labs, Dr. Srihari Raju Kalidindi. L&L has also advised Carlyle on all its follow-on investments into Viyash over a period of time.

Significance:

While Carlyle Group has a well-established history of investing in the healthcare sector, both in India and globally, this is the first time that Carlyle has built a generic pharmaceuticals platform in India to create value through its prior expertise in the sector and close partnerships with the management. The investments from Carlyle will be geared towards building a fully integrated pharmaceuticals platform permeating the complete product and value chain including advanced intermediates, APIs and finished dosage forms.

Foreign counsel: Clifford Chance was the foreign counsel to Carlyle Group, on the initial investment by Carlyle into Viyash.

The Team

The transaction team consisted of Partner Anshuman Mozumdar and Associates Ankur Kumar and Aditi Halder, Vikram Lakshman and Anirudh Gotety.

The due diligence team for the initial round of funding consisted of Partner Anshuman Mozumdar, Sr. Associate Aatmin Shah and Associates Vikram Lakshman, Anirudh Gotety, Ankur Kumar, Sakshi Saraogi, Vishakha Panchangam, Amritha Kumar, Nikhil Variyar and Tanvi Varma.

Partners Abdullah Hussain and Rudresh Singh advised on competition law related aspects of the transaction. Partner Shonali Choudhry provided advice on certain specific pre-closing matters impacting the transaction.