BDR Pharma buys Acme's oral solids arm to scale its CDMO platform
What's the deal? Mumbai-based BDR Pharmaceuticals is acquiring a controlling stake in the oral solid formulations business of contract drug manufacturer Acme Formulations from shareholders led by alternative asset manager PAGDealroom has a profile for this one. Try Dealroom →. The buyout was announced in November 2026; financial terms were undisclosed.
What each side does: Founded in 2005, Acme provides contract development and manufacturing services spanning thyroid products, hormones, and complex oral solid formulations, exporting to more than 40 countries. BDR runs a CDMO platform it is expanding through acquisitions.
What's the endgame? BDR says Acme adds complementary capabilities in thyroid products, female sex hormone products, and general medicines, plus a USFDA-approved manufacturing base. That base can support commercialisation of its US generics filings.
Why now? The deal marks a private equity exit from the oral-solids business. PAG and significant minority shareholder Viral Shah will retain full ownership of Acme's injectables arm, Immacule.
"Acme will further strengthen our CDMO platform and add differentiated capabilities to expand our global presence," said Dharmesh Shah, chairman and managing director of BDR Pharma.
PAG took control of Acme in 2021 for US$143.1M, or roughly $145 million. "We believe that BDR Pharma is the ideal owner to take it to the next level," said Nikhil Srivastava, partner and co-head at PAG. O3 Capital advised BDR on the transaction.
The signal: The purchase fits a broader push by Indian pharma companies to build CDMO scale through acquisitions. Piramal PharmaDealroom has a profile for this one. Try Dealroom → took majority control of biologics CDMO Yapan Bio in August, and Laurus Labs announced two capability-focused deals in November — though BDR's move is more directly about conventional formulations.
Read more: pharma.economictimes.indiatimes.com
Image credit: Generated with Gemini
