Suven Pharmaceuticals announces May 1, 2025 as Effective Date for Amalgamation of Cohance Lifesciences

Suven Pharmaceuticals Limited (BSE: 543064, NSE: SUVENPHAR), a leading contract development and manufacturing organization (CDMO), announced that it has received final approval from the Department of Pharmaceuticals (DoP), Ministry of Chemicals and Fertilizers, Government of India, for foreign investment under applicable regulations. This marks the final regulatory clearance required to implement the Scheme of Amalgamation between Cohance Lifesciences Limited and Suven Pharmaceuticals Limited, a transaction previously approved by shareholders and sanctioned by the Hon'ble NCLT, Mumbai Bench.

In line with the terms of the approved Scheme of Amalgamation, the merger will take effect from the business opening hours of 1st May 2025, following the satisfaction of all prescribed conditions.

The merged company will operate under the name Cohance Lifesciences Limited, subject to applicable regulatory approvals, reflecting a unified platform with expanded CDMO capabilities.

"This approval is a significant milestone and reinforces the strategic vision behind the merger," said Vivek Sharma, Executive Chairman, Suven Pharmaceuticals. "We are combining niche, technology-led capabilities to create a differentiated, innovation-driven global CDMO. 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(INR85bn) revenue ambition through a mix of organic growth and strategic acquisitions."

The merged entity will operate with an expanded scope of capabilities across the pharmaceutical value chain, combining Suven's scale and commercial execution strengths with Cohance's domain expertise in Antibody-Drug Conjugates (ADCs) and complex chemistry platforms. This integration strengthens our positioning as an innovation driven integrated CDMO partner to global innovators, with a focus on scaling high-growth modalities such as ADCs and oligonucleotides.

The Board has also approved Thursday, 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.

With the merger becoming effective, the Company has initiated the operational and organizational integration, aligning systems, capabilities, and teams.

Shares of Suven Pharmaceuticals Limited was last trading in BSE at Rs. 1143.25 as compared to the previous close of Rs. 1204.95. The total number of shares traded during the day was 3994 in over 721 trades.

The stock hit an intraday high of Rs. 1206.05 and intraday low of 1138.65. The net turnover during the day was Rs. 4640624.00.

Source : Equity Bulls

Keywords

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