Suven Nishtaa Pharma has now become a wholly owned subsidiary of Suven Life Sciences. The company’s board of directors at its meeting held on January 31, 2012, have given consent for the amalgamation of the wholly owned subsidiary - Suven Nishtaa Pharma with the holding Company - Suven Life Sciences, subject to the approval of the scheme by the Honble High court of Andhra Pradesh (AP).
Consequent to the merger, there would be no issue of shares to the merger, since the company which is being proposed to be merged with the holding Company is a wholly owned subsidiary.
Suven Life Sciences is a biopharmaceutical company focused on discovering, developing and commercializing novel pharmaceutical products, which are first in class or best in class therapies through the use of GPCR targets.
