Advent International (Advent) has completed its majority acquisition of Suven Pharmaceuticals (Suven), one of the top contract development and manufacturing organizations (CDMOs) in India. Advent is also announcing the new Board of Directors and management team for Suven Pharma.
Advent acquired 50.1% stake in Suven at an agreed price of Rs 495/share. An open offer for the remaining 26% of stake will be triggered within stipulated timelines, and the required details will be announced soon. As a majority stakeholder, Advent plans to foster Suven’s capabilities to help it strive towards becoming one of the leading companies in the CDMO space globally.
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.
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