Novast Laboratories

About Novast Laboratories

Founded in 2005 by Prasad Pinnamaraju, Novast Laboratories is a specialty pharmaceutical company with a significant presence in both China and the United States. The firm operates as a subsidiary of Novast Holdings and has established itself by developing and manufacturing finished drug products and Active Pharmaceutical Ingredients (APIs) for a global client base. The company's headquarters are located in Nantong, China, with a service center in Texas, USA, to handle USFDA regulatory filings.

Novast's core business involves contract development and manufacturing services for both generic and innovator pharmaceutical companies. The company's expertise lies in creating difficult-to-formulate products, including those with challenging APIs. Its product portfolio is diverse, featuring oral contraceptives, hormonal drugs, and conventional dosage forms like timed-release, controlled-release, and immediate-release tablets and capsules. A key area of specialization is the production of high-containment oncology dosage forms. Revenue is generated through these contract services, as well as through licensing agreements and collaborative research and development projects. A notable milestone was a development and supply agreement with Eli Lilly in 2012 to co-develop and commercialize branded products for the Chinese market.

Financially, Novast Laboratories has demonstrated significant growth, having raised a total of $186 million over three funding rounds. The most recent funding was a Series E round on May 9, 2020, which raised $141 million, led by investors such as Legend Capital and Xiamen C&D Metals. The company's first product received FDA approval for the American market in late 2010, marking a significant achievement. Novast was the first pharmaceutical company in China to receive U.S. FDA approval for its finished drugs and successfully place them on the U.S. market. The company leverages an agile R&D model, integrating advanced technologies to accelerate drug discovery and development, which allows it to maintain a competitive edge.