Gland Pharma Singapore arm to acquire Cenexi Group for over Rs 1000 crore

Commenting on the proposed acquisition, Mr. Srinivas Sadu, MD & CEO, Gland Pharma said "This proposed acquisition would be Gland Pharma's first international acquisition, and it would perfectly support our goal of deepening access into the European markets. This acquisition would help expand our global presence and further solidify our identity as an injectable-focused CDMO company. Together, we see exciting synergy opportunities from leveraging our combined sterile expertise and development capabilities to expand our customer base and increase share of wallet. The acquisition will not only act as a sustainable lever for long-term growth but would also establish a leading European platform to enrich our offering and increase value add to customers."

Commenting on the proposed acquisition, Mr. Christophe Durand, CEO, Cenexi said "We view the combination of Cenexi with Gland Pharma, as a natural partnership which would both, support our long-term strategy of becoming a top European sterile player and help us drive the next phase of growth and international expansion for Cenexi. We are very enthusiastic about combining our two organizations: the enhanced scale, compelling commercial synergies and geographic complementarity would drive significant added-value to customers, while relying on common values putting service and quality first, always. I am looking forward to working closely together and strengthening the Group's global leadership as a sterile-focused CDMO."

The proposed acquisition remains subject to receipt of necessary regulatory approvals and satisfaction of certain conditions.

Clifford Chance LLP acted as the international legal advisor to Gland Pharma, while Cyril Amarchand Mangaldas acted as the Indian legal and regulatory advisor. Jefferies International and Natixis Partners acted as financial advisors to Cenexi, while Dechert LLP acted as legal advisor