A private equity consortium led by PAG, an Asia-focused investment firm, has announced the appointment of Santosh Kumar Mahil as the Managing Director and CEO of Sekhmet Pharmaventures Pvt Ltd. Mahil replaces Anil Khubchandani, who was appointed to the role in 2023. With nearly three decades of experience in the pharmaceutical industry, Mahil brings a wealth of knowledge and expertise to his new role.
Mahil’s experience spans the entire pharmaceutical value chain, including active pharmaceutical ingredients (APIs), formulations, intermediates, and contract development and manufacturing (CDMO) services. He has held leadership roles at several prominent pharmaceutical companies, including Lupin, USV, Unichem, and Shilpa Medicare. In his most recent role, he served as CEO of Shilpa Pharma Life Sciences, an R&D and manufacturing subsidiary of Shilpa Medicare.
Sekhmet Pharmaventures is an investment platform established to support the next generation of API companies. It is the India arm of Gamot API Pte Ltd, a Singapore-based platform launched by PAG, along with Indian private equity firms CX Partners and Samara Capital. Sekhmet’s platform includes Chennai-based Anjan Drug Pvt Ltd and the Optimus Drugs Group of Companies, both of which are API manufacturers that emphasize global standards of quality and regulatory compliance.
As of March 2024, Sekhmet Pharma reported net sales of Rs 1,035 crore, a slight increase from Rs 1,004 crore in the previous year. The company’s net loss narrowed to Rs 190 crore from Rs 256 crore in March 2023. The appointment of Mahil as CEO is expected to help drive growth and expansion at Sekhmet Pharmaventures. His experience and expertise in the pharmaceutical industry will be invaluable in leading the company’s efforts to support the next generation of API companies.
The appointment of Mahil also follows the elevation of Nikhil Srivastava, partner and India head of PE at PAG, to co-head of the firm’s global PE business. This move is seen as a sign of PAG’s commitment to expanding its presence in the Indian market and supporting the growth of companies like Sekhmet Pharmaventures. With Mahil at the helm, Sekhmet Pharmaventures is well-positioned to capitalize on opportunities in the API market and drive growth and innovation in the pharmaceutical industry.