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The merger of listed Sequent Scientific and privately-held Viyash Life Sciences became effective last week. The combined entity has a market capitalisation exceeding $1 billion.
“I have a commitment to bring in about ₹400 crore to subscribe to my portion of the shareholding,” said Bodepudi. “With me personally infusing funds, the net debt of the merged entity will be almost zero.”
Bodepudi headed global operations for Viatris, world’s largest generic drug maker, before venturing out as an entrepreneur. He founded Viyash Life in 2019. Carlyle invested in his company. He will own 10% stake in merged company.
While Sequent is an animal health company,
Viyash makes human health products. Bodepudi believes the merged entity has the opportunity to address a large global market.
“Sequent Life Sciences on its own had limitations because of financial issues. The combined balance sheet is strong,” he said. He said the newly-merged entity will be generating ₹650 crore in annual operating profits besides being able to pursue new M&A opportunities that wouldn’t have been possible earlier as they would now become almost debt-free.Sequent and Viyash Life will seek opportunities emerging out of genericization of products in the animal health segment in the developed world, he said.
They would also simultaneously work on developing a contract development and manufacturing organisation.
This could entail doing background work for global innovator firms who may outsource part of their R&D and manufacturing to local partners. “We can address a market of $30-$40 billion worth of products,” he said.
