India shifts to early-stage investments in biologics and genomics

Its exit market remained strong in the first half of 2023.

India has started to transition up its pharma value chain with early-stage investments in biologics and genomics, according to a Global Private Capital Association report.

The market, which is known as a leading supplier of generic medicines, is seen to grow its pharmaceuticals sector to US$130b by 2030.

Its healthcare exit market is also improving with a US$3.6b deal value in the first half of 2023.

“NIIF and TPG’s secondary sale of Manipal Health Enterprises to Temasek stands out as the largest healthcare exit on record in India,” read the report.

In addition to secondary sales, India’s robust public markets have also proven to be an active exit source, with IPOs and follow-on public-market transactions that accounted for 39% of India’s aggregate exit value since 2021.