Advent to acquire 50.1% stake in Suven Pharma
By MYBRANDBOOK
Advent International will acquire a 50.1% stake in Suven Pharmaceuticals for about Rs 6,300 crore, with an aim to merge the drugmaker with a portfolio company, Cohance Lifesciences. The merger of Cohance with Suven would help in building a leading Clinical Drug Development and Manufacturing (CDMO) and merchant Active Pharmaceutical Ingredient (API) player, servicing the pharma and specialty chemical markets.
Cohance, wholly-owned by Advent, was set up to create a new brand identity for its CDMO and API platform and to bring together three Advent portfolio companies – RA Chem Pharma, ZCL Chemicals and Avra Laboratories.
Venkateswarlu Jasti, Managing Director at Suven Pharmaceuticals said that the proposed merger with Cohance will help the companies offer a broader set of services. He added, “Advent is the ideal partner for us, with deep expertise in healthcare, and a global network of professionals and experts. Their experience and resources will launch the next phase of growth for Suven.”
Following the deal, Advent International will hold a majority stake in the pharmaceutical company. As part of the transaction, Advent will also be making an open offer to acquire an additional 26% stake from public shareholders.
Advent International Managing Director Pankaj Patwari said, “Our vision for Suven is to build a $1-billion global leader by executing effectively on the product pipeline, building new marquee customers, turbo-charging business development and scaling up manufacturing and R&D. The combined entity (Suven and Cohance) will have three massive growth vectors across pharma CDMO, speciality chemicals and merchant API, each of which have strong macro tailwinds. We will also look at acquiring synergistic businesses globally, to further build capabilities and gain new customer access.”
BREAKING NEWS
TECHNO TRENDS
Legal Battle Over IT Act Intensifies Amid Musk’s India Plans
The outcome of the legal dispute between X Corp and the Indian government c...
Wipro inks 10-year deal with Phoenix Group's ReAssure UK worth
The agreement, executed through Wipro and its 100% subsidiary,...
Centre announces that DPDP Rules nearing Finalisation by April
The government seeks to refine the rules for robust data protection, ensuri...
Home Ministry cracks down on PoS agents in digital arrest scam
Digital arrest scams are a growing cybercrime where victims are coerced or ...
E-Magazine
TECHNOTAINMENT
Hrithik Roshan to endorse RuPay as Brand Ambassador
RuPay is reportedly planning to feature Bollywood superstar Hrithik Rosha
India Today Group launches – AI Pop Stars
Staying true to our industry leadership position in using cutting-edge tech
MOVERS & SHAKERS
TelioLabs ropes in Phaniraj V A as the Group CEO
TelioLabs has announced the onboarding of Phaniraj V A as its new Group CE
Wipro Appoints Amit Kumar as Managing Partner and Global Head
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology s
OPEN YOUR EYES
INTERVIEWS
Alpha Max offers high end solutions in the network space to en
The vision at Alpha Max is to attain quality as the trademark and create a
AMD Pensando driving innovation in the DPU architecture space
AMD Pensando stands out in the DPU (Data Processing Unit) market with its u
HOT PICK
MSI Announces the availability of RTX 50 series of laptops in
MSI, the innovative computing manufacturer in gaming, creator
Nothing Phone (3a) goes on sale today, starting at Rs 19,999
The phone was launched on March 4, featuring a 50MP main, ultra-wide, and t
MAKE IN INDIA BRANDS
HAVELLS INDIA LTD.
SAMRIDDHI AUTOMATIONS PVT. LTD.
ALPHAMAX TECHNOLOGIES PVT. LTD.
SAFE SECURITY SERVICES PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
ICONS OF INDIA : SUNIL VACHANI
Sunil Vachani is the Chairman of Dixon Technologies (India) Ltd. Under...
Icons Of India : NANDAN NILEKANI
Nandan Nilekani is the Co-Founder and Chairman of Infosys Technologies...
Icons Of India : CP Gurnani
Former Managing Director and CEO of the well-known IT service company ...
PARTNER SPEAKERS
PSU
CSC - Common Service Centres
CSC initiative in India is a strategic cornerstone of the Digital Indi...
CERT-IN - Indian Computer Emergency Response Team
CERT-In is a national nodal agency for responding to computer security...
IOCL - Indian Oil Corporation Ltd.
IOCL is India’s largest oil refining and marketing company ...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Steve Sanghi, Executive Chair, Microchip
Steve Sanghi, the Executive Chair of Microchip Technology, has been a ...
Indian Tech Talent Excelling The Tech World - Lal Karsanbhai, President & CEO, Emerson
Lal Karsanbhai, President and CEO of Emerson, assumed the leadership i...
Indian Tech Talent Excelling The Tech World - George Kurian, CEO, Netapp
George Kurian, the CEO of global data storage and management services ...
ITFORUM 2025
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
of images belongs to the respective copyright holders
