Hyderabad: Pharma major Laurus Labs has invested around Rs 108 crore ($11.3 million) in KRKA Pharma Private Limited, its Hyderabad-based joint venture with Slovenia’s KRKA, through a rights issue, the company said in a regulatory filing on Wednesday.The Hyderabad-headquartered pharmaceutical company said it had acquired 10.78 crore equity shares of KRKA Pharma Pvt Ltd at a face value of Rs 10 each, aggregating to Rs 107.8 crore.Following the investment, Laurus Labs’ total holding in the joint venture has risen to 262.15 million equity shares of Rs 10 each, while its ownership remains unchanged at 49%. Its Slovenian partner KRKA continues to hold the remaining 51%.Laurus and KRKA had announced the formation of KRKA Pharma Pvt Ltd on Jan 25, 2024, after years of contractual collaboration.The joint venture was set up to produce finished pharmaceutical products for new markets, including India and other markets outside the European Union where neither partner currently sells finished products.At the time of the agreement, the partners said the registered capital of the new company was Euro 50 million, to be subscribed in stages depending on funding requirements as the business develops.The companies have said the venture is intended to combine KRKA’s international generic pharmaceutical capabilities with Laurus Labs’ manufacturing and development expertise, while creating synergies through shared knowledge and resources. The investment forms part of the planned phased capitalisation of the venture’s operations.
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