Suven Pharmaceuticals Acquisition & Valuation

Suven Pharmaceuticals was acquired by Cohance Lifesciences in February 2024.

Suven Pharmaceuticals acquisition price

Undisclosed

Acquired by Cohance Lifesciences · Feb 2024

Key investors in Suven Pharmaceuticals

  • Abu Dhabi Investment Authority

Suven Pharmaceuticals Overview

About Suven Pharmaceuticals

Suven Pharmaceuticals is a contract development and manufacturing company serving pharmaceutical and biotechnology customers. It serves drug developers that outsource active-ingredient development, process chemistry, clinical supply and commercial manufacturing, and its products or services sit inside day-to-day operating or consumer workflows rather than acting as a passive holding vehicle. The business earns revenue through project fees and product sales under development and manufacturing contracts. Founded in 2018 and based in Hyderabad, Suven Pharmaceuticals operates across India and international regulated pharmaceutical markets through research, manufacturing and customer-development teams. Suven was separated from Suven Life Sciences and provides custom synthesis and manufacturing across intermediates and active pharmaceutical ingredients. Advent International acquired control in 2023, and ADIA later obtained an indirect interest through an Advent-managed holding structure. Customers choose the company for process-chemistry expertise, regulated manufacturing assets and long customer relationships across drug-development stages, while its capital base supports the people, technology, physical assets and regulatory capabilities needed to deliver those services. Its profile in this research is that of an operating company with identifiable customers and commercial revenue, even where long-term institutional shareholders own a material stake.


Founded

2018

HQ

IndiaHyderabad

Status

Acquired

Customer focus

B2B

Revenue model

Services

Suven Pharmaceuticals Acquisition

Suven Pharmaceuticals was acquired by Cohance Lifesciences for an undisclosed price on 29 February 2024.

Suven Pharmaceuticals, a listed Indian CDMO specializing in contract drug production, specialty chemicals, and API manufacturing with five facilities and $165 million in recent fiscal year revenues, merged with Cohance Lifesciences, a privately held CDMO owned by Advent International managing seven manufacturing sites, $154 million annual revenues, and 2,100 employees. The merger, approved by Suven shareholders, SEBI, stock exchanges, Department of Pharmaceuticals, and National Company Law Tribunal on March 27, 2025, completed on May 1, 2025, with Suven as the surviving listed entity rebranded as Cohance. Cohance shareholders received 11 Suven shares for every 295 Cohance shares in the all-stock transaction valued at INR 81.3 billion; Citigroup, Kotak Mahindra Capital, and Shardul Amarchand Mangaldas advised Suven, while PwC and BDO served as valuers. Advent International, which acquired a 50.1% stake in Suven in September 2023 and launched Cohance in November 2022 from RA Chem Pharma, ZCL Chemicals, and Avra Laboratories, drove the merger to create a diversified CDMO platform expanding in antibody-drug conjugates, small molecules, and oligonucleotides. The combined entity reported $282 million in FY2024 revenues, with executive chairman Vivek Sharma projecting $1 billion within five years through cross-selling, lifecycle management, procurement synergies, and integration of Suven’s commercial execution with Cohance’s ADC and complex chemistry expertise. The deal is double-digit EPS accretive from the first effective year, with operational integration targeting completion by Q1 2026 amid India's CDMO market share under 3%.

Suven Pharmaceuticals acquisition details
AcquirerDateType
29 Feb 2024Strategic M&A

Suven Pharmaceuticals Funding History

Suven Pharmaceuticals has 1 recorded secondary share sale and no primary funding rounds.

Suven Pharmaceuticals funding rounds
DateStageInvestorsDeal Summary
Jan 2024SecondaryAbu Dhabi Investment AuthorityADIA acquired an indirect stake in Suven Pharmaceuticals during 2024 through Platinum Poppy, an ADIA vehicle that invested in Berhyanda, the Advent International-managed holding company controlling Suven. Advent had completed its control acquisition in 2023, so ADIA’s later participation broadened the sponsor capital behind the existing ownership rather than changing Suven’s operating control. Suven develops and manufactures pharmaceutical intermediates and active ingredients for global drug companies under contract development and manufacturing arrangements. The company earns project and product revenue across development and commercial stages and operates regulated Indian facilities. ADIA’s annual review identifies the indirect investment but does not disclose percentage, consideration or a more precise date. The stored date reflects the counterparty announcement date; it is not inferred from a URL or publication identifier.

Who has invested in Suven Pharmaceuticals?

1 investor has backed Suven Pharmaceuticals across its funding rounds, including Abu Dhabi Investment Authority.


Suven Pharmaceuticals Investors

Investors in Suven Pharmaceuticals by funding rounds participated
InvestorHQRoundsRoleFirst check

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Acquisitions by Suven Pharmaceuticals

Suven Pharmaceuticals has acquired 3 companies to date.

Last acquisition by Suven Pharmaceuticals was on December 6th 2024. Suven Pharmaceuticals acquired NJ Bio for $115M.


Latest Acquisitions by Suven Pharmaceuticals

NJ Bio
Casper Pharma
Sapala Organics
Description
NJ Bio, Inc. is a Princeton-based contract research and manufacturing organization for biotech and pharmaceuticals. The firm provides integrated services including antibody-drug conjugate development, protein expression in mammalian and microbial systems, and cell-based assays. It operates cGMP facilities supporting preclinical to Phase II trials.
Casper Pharma develops and commercializes specialty drugs targeting cardiovascular, gastrointestinal, urological, pain, and ophthalmic conditions. Headquartered in Denmark with operations in Europe and Asia, the firm partners with global manufacturers to launch products like hypertension treatments and eye drops in emerging markets.
Sapala Organics is a Hyderabad-headquartered contract development and manufacturing organization specializing in oligonucleotide drugs and nucleic acid building blocks. The company produces phosphoramidites, nucleosides, GalNAc conjugates, pseudouridine, and drug delivery compounds for life sciences and materials research. Sapala supports drug discovery from synthesis to scale-up, operating cGMP facilities and serving pharmaceutical firms globally.
HQ CountryUnited StatesUnited StatesIndia
HQ City
Princeton, NJ
East Brunswick, NJ
Hyderabad
Deal Date6 Dec 20245 Nov 202413 Jun 2024
Valuation$115M$20M$41M
EV/Revenue
EV/EBITDA

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Suven Pharmaceuticals Competitors

Suven Pharmaceuticals competitors include listed companies like uniQure, Supernus Pharmaceuticals, ANI Pharmaceuticals and Hugel, and private ones like Anew Labs and Verdiva Bio.

Public and private companies comparable to Suven Pharmaceuticals
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
uniQureNetherlandsNetherlandsPublicly listed$16M($134M)$1.5B44.7x
Supernus PharmaceuticalsUnited StatesUnited StatesPublicly listed$719M$29M$1.5B1.2x
ANI PharmaceuticalsUnited StatesUnited StatesPublicly listed$883M$207M$1.5B1.6x
Anew LabsChinaShanghaiPrivate--$1.5B-
Verdiva BioUnited KingdomLondonPrivate--$1.5B-
HugelSouth KoreaSouth KoreaPublicly listed$314M$152M$1.5B3.1x

Suven Pharmaceuticals Public Comps

Suven Pharmaceuticals is no longer listed, but its public comps include uniQure, Supernus Pharmaceuticals, ANI Pharmaceuticals, Hugel, Square Pharma, Nanobiotix, ABL Bio, Bora Pharmaceuticals, Nuvation Bio and Damora Therapeutics.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
uniQure$16M($134M)56.9x44.7x(6.9x)(4.8x)
Supernus Pharmaceuticals$719M$29M1.7x1.2x40.9x7.6x
ANI Pharmaceuticals$883M$207M1.9x1.6x8.2x6.0x
Hugel$314M$152M3.5x3.1x7.2x7.3x
Square Pharma$613M$181M1.7x1.5x5.9x5.1x
Nanobiotix$33M($15M)46.3x51.0x(106.0x)(79.2x)
ABL Bio$59M($27M)24.1x21.6x(52.4x)(28.3x)
Bora Pharmaceuticals$578M$208M3.5x3.0x9.7x12.5x

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Common questions about Suven Pharmaceuticals

When was Suven Pharmaceuticals founded?Suven Pharmaceuticals was founded in 2018.
Where is Suven Pharmaceuticals headquartered?Suven Pharmaceuticals is headquartered in Hyderabad, India.
Is Suven Pharmaceuticals publicly listed?No, Suven Pharmaceuticals was acquired by Cohance Lifesciences in February 2024.
Who acquired Suven Pharmaceuticals?Suven Pharmaceuticals was acquired by Cohance Lifesciences in February 2024.
Who are Suven Pharmaceuticals' investors?Suven Pharmaceuticals' investors include Abu Dhabi Investment Authority.
Which companies are comparable to Suven Pharmaceuticals?Companies comparable to Suven Pharmaceuticals include uniQure, Supernus Pharmaceuticals, ANI Pharmaceuticals, Anew Labs, Verdiva Bio and Hugel.
How many companies has Suven Pharmaceuticals acquired?Suven Pharmaceuticals has acquired 3 companies, including NJ Bio, Casper Pharma and Sapala Organics.
What was the largest acquisition by Suven Pharmaceuticals?The $115M acquisition of NJ Bio in December 2024 is the largest acquisition Suven Pharmaceuticals has made to date.

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