Trilegal has advised Maiva Pharma, its promoter and other shareholders on the $120 million acquisition of a majority stake in Maiva by Morgan Stanley Asia and InvAscent, which was represented by Mumbai-based M&A boutique Quillon Partners.

Maiva is India’s second-largest pureplay injectables contract development and manufacturing organisation. The company plans to use the proceeds from fund raise to set up a new manufacturing facility near Hosur, India, with capabilities in sterile dosage forms, including pre-filled syringes, bags, oncology and hormonal injectables.

The investment comes as India’s healthcare sector witnesses unprecedented growth post-pandemic, given its ageing population and growing disposable income.

The Trilegal transaction team was led by corporate partner Rahul Chugh and comprised senior associates Siddhant Maheshwari, Sidharth Dhody, and Kriti Chatrath, and associate Philip Ashok Alex.

The Quillon Partners team advising InvAscent comprised partner Ankit Majumdar and associate Pooja Kumari.