Sai Parenterals Limited has completed the acquisition of a 60% equity stake in Prathyak Laboratories Private Limited, an operational research and development facility located at Genome Valley, Hyderabad, for Rs 15 crore.

The acquisition has been funded through the unutilised net proceeds from the company’s IPO. Following the transaction, Prathyak Laboratories has become a direct subsidiary of Sai Parenterals and has been renamed Sai Prathyak Laboratories Private Limited.

The acquisition replaces the greenfield R&D centre that Sai Parenterals had originally planned to establish. With Prathyak already operational for three years, the company gains access to 28 research scientists and a development pipeline comprising 150 SKUs across 86 molecules.

Prathyak specialises in lyophilised, liposomal and nano-based complex injectables, as well as oncology injectables, areas that align with Sai Parenterals’ strategy to expand its regulated-market injectable portfolio.

By acquiring an established R&D platform, Sai Parenterals expects to accelerate product development without the construction and team-building timelines associated with a new facility. Formulations developed at the centre can be transitioned to commercial production as the company expands its injectable manufacturing capacity.

The R&D facility will also support Sai Parenterals’ Australian and New Zealand operations, where renewed supply agreements require the introduction of new products each year.

The company has the Right of First Refusal (ROFR) to acquire the remaining 40% stake at the same valuation as the current transaction. The purchase of the balance stake is proposed to be funded through internal accruals, potentially taking the subsidiary to full ownership.