Mumbai, July 16 -- Packaging firm Manjushree Technopack Ltd (MTL), backed by private equity major PAG, is sharpening its focus on pharmaceutical and high-margin specialty segments to drive profitability and grow market share, chief executive Thimmaiah Napanda said in an interview.

"Over the past 18-24 months, we have taken several strategic measures to strengthen our financials through both organic and inorganic routes," said Thimmaiah.

MTL's push into pharmaceutical packaging follows PAG's acquisition of the company last year from Advent International, which exited at a $1 billion valuation. Advent had initially planned to exit via an IPO but opted for a private-market deal instead, when PAG offered a better price.

The move is part of...