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An arm of the private equity firm TPG will invest $30 million in Solara Active Pharma, a maker of active pharmaceutical ingredients (APIs). Solara has five manufacturing sites and two research centers in India and is one of the world’s largest producers of ibuprofen. The deal marks TPG’s first investment in India’s life sciences sector. Solara was formed last year through the combination of the API businesses of Strides Shasun and Sequent Scientific, both of India.
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