Felix Pharmaceuticals is considering the sale of a controlling stake in its subsidiary, Felix Generics, which specializes in veterinary medications for companion animals like dogs and cats. The company, based in Ireland, is targeting a valuation of approximately $200-250 million for this stake in its Gurugram-based subsidiary. Discussions are ongoing with mid-sized and buyout private equity firms, as confirmed by sources familiar with the matter. Felix is expected to sell more than 51% of the subsidiary to a private equity firm, while the founders will maintain a significant stake and continue to manage the business alongside the new investor. This transaction aims to secure primary capital for expanding the company’s product offerings in the animal health and nutrition sectors.
The management is currently engaging with various mid-sized private equity firms and larger growth-stage investors, with the deal still in its early phases and anticipated to close in the next quarter. This move aligns with the increasing demand for veterinary drugs and pet care services in India, where numerous startups are emerging to meet this growing market need. Felix Pharmaceuticals, established by Neeraj Agrawal, Shumeet Banerji, and Sir Jon Symonds, holds a 99.99% equity stake in Felix Generics Pvt. Ltd.
Founded in 2015, Felix Generics develops and manufactures generic bio-equivalent medications for companion animals. Initially focusing on oral solid dosage formulations, the company has since broadened its product range to include injectables, oral suspensions, and pastes. Its manufacturing facility, located in Pithampur SEZ, Indore, Madhya Pradesh, has the capacity to produce around 150 million tablets annually and has received approval from the Health Product Regulatory Authority.
