Advent International to purchase significant stake in Suven Pharma, plans merger with Cohance Lifesciences
As part of the transaction, Advent will also be making an open offer to acquire an additional 26% of the outstanding equity shares of the company from the public shareholders.;
Mumbai: Advent International has entered into a definitive agreement toacquire significant stake in Suven Pharmaceuticals from the Jastifamily, subject to regulatory approvals and conditions. Post the completion of this acquisition, Advent intends to explore the merger of its portfolio company, CohanceLifesciences with Suven, to build an end-to-end CDMO and merchant APIplayer servicing the pharma and specialty chemical markets.
The merger will be evaluated bythe board taking into consideration the strategic rationale and accretiveness to Suven's publicshareholders 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 an additional 26%of the outstanding equity shares of the company from the public shareholders.
"We are delighted to bring Advent into Suven Pharma as a strategic investor. We have built abusiness with industry-leading growth & margins. We have cultivated excellent relationshipswith multiple global innovator companies backed by deep R&D capabilities and demonstratedtrack record of execution and delivery excellence. Advent is the ideal partner for us, with deepexpertise in healthcare, and a global network of professionals and experts. Their experienceand resources will launch the next phase of growth for Suven pharma. This move will benefitSuven platform immensely. The proposed collaboration with Cohance is a win-win for Suvenand its public shareholders. It will help us offer a broader set of services and multi-sites to ourcustomers" said Mr. Venkateswarlu Jasti, Managing Director at Suven Pharmaceuticals Ltd.
Disclaimer: This website is primarily for healthcare professionals. The content here does not replace medical advice and should not be used as medical, diagnostic, endorsement, treatment, or prescription advice. Medical science evolves rapidly, and we strive to keep our information current. If you find any discrepancies, please contact us at corrections@medicaldialogues.in. Read our Correction Policy here. Nothing here should be used as a substitute for medical advice, diagnosis, or treatment. We do not endorse any healthcare advice that contradicts a physician's guidance. Use of this site is subject to our Terms of Use, Privacy Policy, and Advertisement Policy. For more details, read our Full Disclaimer here.
NOTE: Join us in combating medical misinformation. If you encounter a questionable health, medical, or medical education claim, email us at factcheck@medicaldialogues.in for evaluation.