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Mumbai: Advent International backed CDMO Suven Pharmaceuticals has received final approval from the Department of Pharmaceuticals (DoP), to implement the proposed merger with Cohance Lifescience.
In a stock exchange filing the CDMO informed that “the department has approved for foreign investment under applicable regulations. Required to implement the Scheme of Amalgamation between Cohance Lifesciences Limited and Suven Pharmaceuticals.”
In line with the terms of the approved Scheme of Amalgamation, the merger will take effect from “May 1 2025”, following the satisfaction of all prescribed conditions, the company added.
“This integration positions us to scale complex modalities such as ADCs and Oligonucleotides, deepen customer partnerships, and enhance execution across the value chain—enabling us to deliver on our US$1 billion($8500 crore) revenue ambition through a mix of organic growth and strategic acquisitions.” Vivek Sharma, Executive Chairman, Suven Pharmaceuticals, said.
Besides this, the company has also approved May 8, 2025, as the Record Date for determining the eligible shareholders of Cohance Lifesciences Limited who shall receive equity shares of Suven Pharmaceuticals as per the approved share exchange ratio under the Scheme of Amalgamation.
As per the CDMO, the merged company will operate under the name Cohance Lifesciences Limited and will focus on scaling high-growth modalities such as Antibody-Drug Conjugates (ADCs) and oligonucleotides.
Last month, the National Company Law Tribunal (NCLT), Mumbai bench had sanctioned the scheme of amalgamation allowing the companies to move ahead with their merger plans and secure further approvals for executing a merger.
Under the Companies Act, 2013, NCLT issues a scheme of amalgamation after evaluating terms of the amalgamation, including the valuation of assets, allocation of shares, and the treatment of liabilities.
- Published On Apr 26, 2025 at 12:47 PM IST
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