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The Board of Suven Pharma has approved acquisition of Casper Pharma in a meeting on 5th April 2022 at a cost of USD 20.50 million (approx. 155 crore)
The Board have approved the investments by way of purchase of entire (100%) share capital from the existing shareholders of Casper Pharma (CPPL) a Hyderabad based SEZ company engaged in formulations business. Post purchase of shares, the target entity would become a wholly owned subsidiary of Suven Pharma.
The acquisition would be completed within 30 days timeframe from closing of definitive agreements.
Casper Pharma is incorporated on 13th January, 2016 in India and has set up USFDA inspection ready plant in GMR Aviation SEZ in Hyderabad engaged in the business of formulations.
Suven Pharmaceuticals is a biopharmaceutical company,specialized in New Chemical Entity(NCE)-based Contract Research Manufacturing Services(CRAMS) for global life science companies.The company produces active pharmaceutical ingredients(APIs) and API intermediates.
On a consolidated basis, the pharma company reported a 40.9% increase in net profit of Rs 160.07 crore on a 42.4% rise in net sales to Rs 391.59 in Q3 FY22 over Q2 FY21.
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