Advent International (Advent) has entered into a definitive agreement to acquire significant stake in Suven Pharmaceuticals ( Suven) from the Jasti family, subject to regulatory approvals and conditions. Post the completion of this landmark acquisition, Advent intends to explore the merger of its portfolio company, Cohance Lifesciences (Cohance) with Suven, to build a leading end-to-end CDMO and merchant API player servicing the pharma and specialty chemical markets.
The merger will be evaluated by the board taking into consideration the strategic rationale and accretiveness to Suven’s public shareholders and will be subject to regulatory approvals and other customary approvals. As part of the transaction, Advent will also be making an open offer to acquire additional 26% of the outstanding equity shares of the company from the public shareholders.
Suven Pharmaceuticals is a bio-pharmaceutical company, incorporated with the object of being engaged in the business of development and manufacturing of New Chemical Entity (NCE) based Intermediates, Active Pharmaceutical Ingredients (API), Speciality Chemicals and formulated drugs under contract research and manufacturing services for global pharmaceutical, biotechnology and chemical companies.
| Company Name | CMP |
|---|---|
| Sun Pharma Inds. | 1673.50 |
| Dr. Reddys Lab | 1230.00 |
| Cipla | 1236.55 |
| Zydus Lifesciences | 945.85 |
| Lupin | 2307.65 |
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