Suven Pharmaceuticals Ltd. (BSE: 530239, NSE: SUVENPHARM), a leading global Contract Development and Manufacturing Organization (CDMO), today announced that the Hon'ble National Company Law Tribunal (NCLT), vide its order pronounced on March 27, 2025 (and uploaded on the official NCLT website the same day: https://nclt.gov.in/) (the "Order"), has sanctioned the Scheme of Amalgamation between Cohance Lifesciences Limited and Suven Pharmaceuticals Limited.
As per the terms of the Scheme, the merger will become effective from the opening business hours of the first day of the month immediately following the month in which all conditions specified under the Scheme are fulfilled, including receipt of approval from the Department of Pharmaceuticals, where applicable. The effective date will be duly intimated to the Stock Exchanges for public disclosure in accordance with applicable regulations. As previously communicated, the Company expects to complete the amalgamation process by Q1FY26.
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 (ADCs), Oligonucleotides, and Small Molecules. The combined entity will operate as an integrated, end-to-end partner to global innovator pharmaceutical companies, further supported by strong capabilities in the Specialty CDMO and API+ business segments. The merged platform is expected to enhance scale, broaden customer offerings, and drive operational synergies that will fuel long-term growth.
Mr. Vivek Sharma, Executive Chairman of Suven Pharmaceuticals, said, "The NCLT approval marks a milestone moment for both the companies, as we embark on a transformative phase. This merger enhances our global capabilities, particularly in the growing and highly specialized areas of ADCs. With Cohance's unique technological platform in ADC, we are well-positioned to become a $1 billion revenue company in next five years with higher CDMO contribution."
Commenting on the proposed merger, Dr. V. Prasada Raju, Managing Director of Suven Pharmaceuticals, said, "The approval of the merger marks a significant milestone in our journey to build a differentiated and innovation-led CDMO platform from India. The combined capabilities of Suven and Cohance position us strongly in high-growth areas such as Antibody Drug Conjugates (ADCs), Oligonucleotides, and complex Small Molecules. These segments represent the future of pharmaceutical innovation, and our integrated approach-spanning development to commercial manufacturing-aims to deliver high-impact solutions to global innovator clients. We are also excited about the broader synergies this merger will unlock across our Specialty CDMO and API+ business segments, enabling us to drive long-term value creation."
Shares of Suven Pharmaceuticals Limited was last trading in BSE at Rs. 1109.30 as compared to the previous close of Rs. 1113.40. The total number of shares traded during the day was 10495 in over 1285 trades.
The stock hit an intraday high of Rs. 1133.75 and intraday low of 1079.60. The net turnover during the day was Rs. 11536599.00. |
