PAG, an Asia-focused private equity firm, recently said it has reached a contract to procure a regulatory stake in Acme Formulation Pvt Ltd (Acme) for USD 145 million (around INR 1,054 crore).

Acme is a prominent contract development and manufacturing outsourcing (CDMO) company with attention to compound pharmaceutical products. Viral Shah, the founder of Acme, will retain a significant minority stake in the company and continue as Managing Director and CEO.

Nikhil Srivastava, Partner, and Managing Director, Head of India private equity at PAG, said, "Acme has a great reputation for high-quality manufacturing, as well as a leading presence in attractive markets including sterile injectables. We are excited to partner with Acme's inspiring founder Viral to further accelerate the company's growth."

Viral Shah, MD & CEO, Acme, states, “PAG, with its strong track record in pharmaceutical investments, is the ideal partner to help Acme grow even further in the years ahead.”

Acme focuses on products such as disinfected injectables, hormones, and other complex oral solid formulations. It transfers to more than 40 countries and is a reliable spouse for some of the world's leading pharmaceutical companies.