Over the last five years, Matrix has acquired and picked up equity in seven companies including Docpharma (Europe) and Mchem (China), and a joint venture with Aspen Labs (South Africa). In India, it started with a stake in Plant Organics and then Herren Drugs, Vera Labs, Vorin Lab, Fine Chemicals, Medicorp and Concord. Matrix ended 2006 with consolidated revenues of Rs 1,158.61 crore. To reach this far, it takes a company at least 15 years; Prasad has done it in five.
...Recalls Rajiv Malik, who was with Ranbaxy and also on the board of Vorin: “Prasad looked for opportunities at every turn. Even when he was an API (active pharmaceutical ingredient) supplier, he was setting his sights on the next step, that of supplying APIs to the regulated market.” Ranbaxy was doubtful since Matrix had no US FDA approved plant. But Prasad resurfaced within two months with Medicorp, which had a US FDA approved plant. “Move at lightning speed if there is an opportunity has been his credo,” says Malik.
Arun Natarajan is the Founder of Venture Intelligence, which tracks private equity and venture capital in India and Indian-founded companies worldwide. View sample issues of Venture Intelligence India newsletters and reports.