Sagent Pharmaceuticals Raises $40 Million in Two Tranches of a Series B Financing

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Apr 08, 2010, 10:06 ET

SCHAUMBURG, Ill., April 8 /PRNewswire/ -- Sagent Pharmaceuticals, a privately held specialty pharmaceutical company, announced today that it has raised $40 million through two tranches of a strategic Series B financing. In this round, a $10 million investment was made by Zhejiang Hisun Pharmaceutical Co. Ltd. (Hisun), and the remaining $30 million was contributed by an unnamed China-focused private equity investment fund. To date, including this financing, Sagent has raised $153 million in equity capital.

"We believe that these investments speak to the successful execution of our business model, enrich the Company's strategic partnerships, and extend Sagent's access to additional products and facilities," commented Jeffrey M. Yordon, Sagent's chief executive officer, founder and chairman of the board. "Sagent has gained expanded access to Hisun's extensive portfolio of active pharmaceutical ingredients and, shortly, to its finished injectable product capabilities. In addition, Sagent's reach into China will be extended through the Chinese investment fund’s strong relationships in the rapidly maturing injectable marketplace in that region.”

About Sagent Pharmaceuticals

Sagent Pharmaceuticals, founded in 2006, is a privately held specialty pharmaceutical company focused on developing, manufacturing, sourcing and marketing pharmaceutical products, with a specific emphasis on injectable products. Sagent has created a unique, global network of resources, comprised of rapid development capabilities, sophisticated manufacturing and innovative drug-delivery technologies, quickly yielding an extensive portfolio of pharmaceutical products that fulfills the evolving needs of patients. Sagent currently has more than 200 products in development.

To Discover Injectables Excellence™ and learn more about Sagent, please visit www.SagentPharma.com.

SOURCE Sagent Pharmaceuticals