The company has received final approval from the Department of Pharmaceuticals, Government of India, for foreign investment under applicable regulations
The amalgamation is expected to create a future-ready, diversified CDMO platform with a technology-led focus across three high-growth verticals-Antibody Drug Conjugates
Pharma CDMO business has posted a 40% YoY in Q2 driven by BD efforts and backed by macro tailwinds
Based out of Boston, Vivek will build on the foundation created by Vaidheesh, and will help build a stronger customer connect and further drive global expansion of the platform
The company will address these observations within the stipulated timeline
Suven Pharmaceuticals’ API and forumulations facilities complete USFDA inspection successfully
The aggregate foreign investment, including investment from other foreign investors may be up to 90.1% shareholding in the company
The approval is for acquisition of up to 76.1% equity shares of Suven Pharmaceuticals by Berhyanda Limited
Advent will also be making an open offer to acquire additional 26% of the outstanding equity shares of the company from the public shareholders.
Anand Rathi maintains long-term guidance of 10-15% revenue growth and 40% EBITDA margins
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