Beta Drugs raises INR 117 crore from HealthQuad & others to accelerate growth plans

New Delhi: Beta Drugs Limited, a leading vertically integrated oncology focused formulations company, has raised primary capital worth INR 117 Crore from HealthQuad Fund II, and other investors including a Singapore-based investment fund and a private wealth management firm for a minority stake in the Company.

Beta Drugs is one of the fastest-growing oncology formulations companies in India, offering a broad product portfolio across all major oncology segments, including chemotherapy, targeted, hormonal and supportive therapy. Notably, Beta Drugs was also the first company in India to introduce oncology drugs in suspension form. As one of the few vertically integrated manufacturers in the country, Beta Drugs has established a robust position within the country and has also expanded its footprint to over 46 countries, holding accreditations from regulatory bodies such as ANVISA Brazil, INVIMA, PICS, and EAEU.

The company was also honoured with the prestigious Forbes “Best Under a Billion” award in 2024.

HealthQuad is India’s largest healthcare transformation fund that backs innovative models to radically improve healthcare access, affordability, and quality of care. HealthQuad is a thought leader and sectoral expert in healthcare backed by global LPs including DFIs, Pension Funds, Global Asset Managers, Big Pharma, Corporates and leading family offices. Their portfolio includes leading companies in AI, data analytics, diagnostics, healthcare financing, chronic care management and pharma distribution, providing a strategic edge to Beta Drugs in expanding its global reach and operational capabilities.

Rahul Batra, Chairman & Managing Director of Beta Drugs said “We are thrilled to welcome HealthQuad as partners in Beta Drugs. Their investment and expertise will play a pivotal role in accelerating our growth journey, as we strive to position ourselves among the top five oncology companies in India over the next five years. By leveraging HealthQuad’s global network and deep knowledge of the pharmaceutical industry, we are confident in our ability to drive innovation, expand our reach, and enhance patient care.”

Ajay Mahipal, Partner at HealthQuad Capital said “We are excited to partner with Beta Drugs in this pivotal phase of their growth journey. HealthQuad has a strong focus on improving healthcare outcomes, especially for the underserved communities and has a positive outlook towards the future of curative oncology in India, which is echoed in Beta Drugs’ mission. Beta Drugs, with its strong manufacturing and R&D capabilities, is poised to improve affordability in the middle- and lower-income segment, and accessibility in tier II and tier III cities in the country. We believe in the transformative potential of their new product launches, expanding export markets, and experienced management team, all of which position the company for substantial growth and value creation.”

o3 Capital acted as exclusive advisor to Beta Drugs for the purpose of this transaction.

DSK Legal, Universal Legal and Desai & Diwanji were the legal advisors to this transaction.