In a move that signals rising investor appetite for pet healthcare, Advent International has agreed to purchase a significant minority stake in Felix Pharmaceuticals Pvt. Ltd., an Irish-based manufacturer of generic veterinary drugs, for $175 million. The deal was announced Monday by Advent’s India office, with the firm aiming to ride the surging wave of global demand for affordable animal medicines.
While the exact size of the equity slice remains undisclosed, the investment is part of Advent’s broader strategy to double down on high-growth sectors, especially in emerging pharma niches like veterinary generics.
Generic Drugs, Tail-Wagging Profits
Founded in 2015, Felix Pharma develops and distributes generic medications for pets—dogs, cats, and horses—geared toward the U.S. and Canadian markets once branded patents expire. The company’s suite of products includes antibacterials, antiparasitic treatments, and other medications in various forms, from chewable tablets to injectables.
What sets Felix apart, according to Advent, is its unmatched portfolio breadth—a key factor in the firm’s aggressive acquisition strategy.
“Healthcare has always been a pillar of our investment thesis,” said Shweta Jalan, managing partner at Advent Mumbai. “And just as India disrupted the human generics space, we believe Felix is primed to revolutionize the animal health segment globally.”
