US-based Warburg Pincus in talks to buy Maneesh Pharma unit in Rs 1,800 crore deal

US-based private equity firm Warburg Pincus is in advanced discussions to acquire the formulations business of Mumbai-based Maneesh Pharmaceuticals in a deal valued around ₹1,600-1,800 crore, sources familiar with the matter told ET.

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Warburg has signed an exclusivity agreement with the company's promoters and is currently engaged in final negotiations to acquire its non-tuberculosis (non-TB) medicines portfolio.

Maneesh Pharmaceuticals is best known for brands such as Smyle Mouth Ulcer Gel, along with key gynaecology products like Doxinate and Clofert. The promoters have been exploring a potential sale for nearly four years, though the company's anti-TB portfolio has remained a sticking point, with limited interest from prospective buyers in that segment.

ET's mailed queries to Maneesh Prama and Warburg Pincus remained unanswered until the publication of this report.

A formal announcement is expected in the next three to four months, industry sources said, adding that discussions with multiple private equity investors have been ongoing for at least two years.

Founded in 1985 by the Sapte family, Maneesh Pharma counts Rakesh Jhunjhunwala-led Rare Enterprises as a minority investor.