Sai Parenterals Limited has completed the acquisition of a 60% equity stake in Prathyak Laboratories Private Limited for ₹15 crore. The transaction, finalized on October 5, 2026, converts the target into a direct subsidiary renamed Sai Prathyak Laboratories Private Limited.

The acquisition replaces the company's original plan to build a greenfield research centre, utilizing unutilised net proceeds from its initial public offering. By acquiring an operating platform, Sai Parenterals bypasses the construction cycle and accelerates access to scientific talent and development pipelines.

Acquisition details and strategic shift

The deal marks a strategic pivot from infrastructure construction to capability acquisition. The 60% stake provides immediate control over an R&D facility located at Genome Valley, Hyderabad. The following table summarizes the key parameters of the completed transaction:

Operational capabilities and pipeline

Prathyak has been operational for three years and brings 28 research scientists to the group. The facility holds a development pipeline of 150 SKUs across 86 molecules, with proven capabilities in lyophilised, liposomal, and nano-based complex injectables, as well as oncology injectables. These areas align directly with Sai Parenterals' focus on building a regulated-market injectable franchise.

The existing team's cohesion allows development work to begin immediately. This contrasts with a greenfield approach, which would have required significant time to assemble a scientific team of comparable calibre. Formulations developed at this centre can be taken into commercial production as the company expands its injectable capacity, shortening the path from development to supply in regulated markets.

Integration with group business

The R&D platform supports the group's Australian and New Zealand operations through Noumed Pharmaceuticals. Renewed supply agreements in these regions carry contractual commitments to introduce new products annually. Development for these launches can now be undertaken within the group, leveraging the internal R&D capabilities.

Mr. Anil Kumar Karusala, Chairman and Managing Director, stated that the acquisition enables deeper integration across the value chain and creates a faster route from development to commercial supply. He noted that work already completed at the R&D centre can be utilized as injectable capacity is expanded.

Future ownership structure

The residual 40% stake in Prathyak is subject to a Right of First Refusal (ROFR). Sai Parenterals may acquire this remaining interest at the same valuation as the current transaction, funded from internal accruals, potentially taking the subsidiary to a wholly owned position.

What the numbers show

The decision to fund the acquisition via unutilised IPO proceeds indicates a disciplined capital allocation strategy, redirecting earmarked greenfield funds toward an asset with immediate revenue-generating potential. The presence of 150 SKUs in the pipeline suggests that the acquisition provides near-term product readiness rather than long-term speculative research value, aligning with the company's goal of faster commercialization in regulated markets.

Noumed Pharmaceuticals, a subsidiary of SAI Parenterals, has extended an OTC supply deal worth AUD 30 million with an Australian pharmacy chain.

Deal highlights

The agreement covers the supply of over-the-counter (OTC) pharmaceutical products to the Australian pharmacy chain. The extension reinforces Noumed Pharmaceuticals' foothold in the Australian retail pharmacy segment.

About the entities

Noumed Pharmaceuticals operates as a subsidiary of SAI Parenterals. The extended supply arrangement with the Australian pharmacy chain underscores the subsidiary's role in distributing OTC pharmaceutical products in the Australian market.