Beyond APIs, Into Finished Formulations
For most of its life, HRV Pharma has been known for one thing: getting high quality APIs from India to customers around the world, without owning a single factory. That story now has a second chapter.
HRV Pharma's Acquisition of Phatebo
The Economic Times reports that HRV has agreed to buy a 100% equity stake in Phatebo, a German pharmaceutical company, from ZeroStack. The financial terms have not been disclosed, but Phatebo brought in about ₹350 crore in revenue in 2025.
Expanding Into Finished Formulations
The deal gives HRV its first finished formulations business, along with a licensed operating entity in Germany. Until now, HRV's work stopped at the ingredient. With Phatebo, it reaches the finished medicine too.
A Strategic Step Into Europe
It is a natural next step for a company that has spent years building the regulatory filings, partner network and customer relationships behind every API it supplies. Those same strengths now have a direct route into Europe.
Featured in The Economic Times
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