Sai Parenterals acquires 60 per cent stake in Prathyak Labs to speed complex injectable pipeline

Sai Parenterals Limited has completed the acquisition of a 60 per cent equity stake in Prathyak Laboratories Private Limited for Rs 15 crore, gaining an operating research and development platform focused on complex injectables and oncology products.

The Hyderabad-based facility at Genome Valley has been renamed Sai Prathyak Laboratories Private Limited and has become a direct subsidiary of Sai Parenterals. The transaction was funded through unutilised net proceeds from the company’s initial public offering.

The acquisition changes the route chosen by Sai Parenterals for its R&D expansion. The company had initially earmarked Rs 18.02 crore from IPO proceeds to establish a greenfield research centre. Buying into an existing platform for Rs 15 crore allows it to avoid the Construction period and the challenge of recruiting and assembling a specialised scientific team.

Prathyak has operated for three years and brings 28 research scientists, along with a development pipeline of 150 SKUs covering 86 molecules. Its stated capabilities include lyophilised, liposomal and nano-based complex injectables, besides oncology injectables. These are product areas that align with Sai Parenterals’ plans to develop a regulated-market injectable franchise.

The key strategic value is likely to lie in linking formulation development with the company’s planned injectable manufacturing expansion. Sai Parenterals said formulations developed at the R&D centre can move into commercial production as its injectable capacity is expanded and upgraded. This could shorten the path from product development to supply, although commercialisation will still depend on manufacturing scale-up, regulatory requirements and market approvals.

The platform also has relevance for the group’s Australian and New Zealand operations through Noumed. Sai Parenterals has said its renewed Australian supply agreements require the introduction of new products each year, and the in-house R&D team can now undertake development work for these launches. Management had earlier indicated that the renewed EBOS and TerryWhite Chemmart supply arrangement envisages 12 new products annually, making product-development capacity an important part of fulfilling the contract structure.

Chairman and Managing Director Anil Kumar Karusala said the acquisition provides both an established scientific team and a product pipeline from the first day. ‘Prathyak gives us both on day one, 28 research scientists who have worked together for three years, and a pipeline of 150 SKUs across 86 molecules in exactly the complex injectable and oncology areas we are building towards,’ he said.

Sai Parenterals has a right of first refusal to acquire the remaining 40 per cent stake at the same valuation. Any future acquisition of the balance stake would be funded through internal accruals. The option does not amount to a completed commitment, but full ownership would further integrate the R&D platform into the group.

The deal forms part of a wider investment phase for the company, which is also pursuing additional injectable manufacturing capability. Management has characterised FY27 as a build year, with the benefits of its capacity and product-development investments expected to become more visible from FY28, subject to execution timelines.

For the June 2026 quarter, Sai Parenterals reported net sales of Rs 178.67 crore, PBIDT of Rs 23.52 crore and profit after Tax of Rs 7.92 crore. Management has maintained FY27 revenue guidance of Rs 750 crore and an EBITDA margin target of around 17 per cent, although recent profitability was affected by higher freight costs and supply-chain disruption in Australia.

At 3.53 pm on October 5, 2026, Sai Parenterals shares were trading at Rs 499.35, down 4.5 per cent from the previous close. The stock was about 19.9 per cent below its 52-week high of Rs 623.70 and around 23.0 per cent above its 52-week low of Rs 406.00.

Disclaimer: The article is for informational purposes only and not investment advice.