Rubicon Research Limited has entered into definitive agreements to acquire an 85% stake in Arinna Lifesciences Limited for an estimated ₹175.92 crore, valuing the target at an enterprise value of ₹200 crore on a cash- and debt-free basis.
The acquisition, to be completed in cash, will result in Arinna becoming a subsidiary of Rubicon upon closure, which is expected within one month, subject to customary adjustments and mutually agreed timelines.
Ahmedabad-based Arinna Lifesciences operates in the branded pharmaceutical marketing segment, with a strong focus on the central nervous system (CNS) and neuro-psychiatric therapeutic categories. Its portfolio includes products such as antiepileptics, antidepressants, thymoleptics, and antipsychotics, supported by a dedicated field force reaching prescribers across India.
Arinna reported a turnover of ₹71.5 crore in FY25, with steady growth over the past three years, rising from ₹60.06 crore in FY23 to ₹65.14 crore in FY24.
Rubicon said the acquisition aligns with its strategy to expand in the chronic and specialty therapeutics space, particularly in CNS segments, which remain a core focus area for the company. The deal is expected to provide Rubicon with enhanced access to domestic markets, leveraging Arinna’s established sales and distribution network to scale its differentiated product offerings, including specialty products and drug-device combinations.