Advent International’s India office announced on Monday a $175 million minority investment in Felix Pharmaceuticals Pvt. Ltd., an Irish-based manufacturer specializing in generic veterinary drugs. This move reflects growing investor enthusiasm for the pet healthcare sector amid rising global demand for affordable animal medicines.
Founded in 2015, Felix Pharmaceuticals focuses on developing and distributing generic medications for pets—including dogs, cats, and horses—targeting the U.S. and Canadian markets once branded patents expire. Its diverse product range includes antibacterials, antiparasitics, and other treatments available in chewables, injectables, and more.
Although the exact equity stake Advent has acquired remains undisclosed, the deal fits within the firm’s strategy to deepen investments in high-growth areas, particularly emerging pharmaceutical niches like veterinary generics.
Advent highlighted Felix’s unmatched portfolio breadth as a key asset driving the acquisition.
“Healthcare has always been a pillar of our investment thesis,” said Shweta Jalan, Managing Partner at Advent Mumbai. “Just as India disrupted the human generics space, we believe Felix is primed to revolutionize the animal health segment globally.”
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