Suven Pharmaceuticals Ltd Company Summary

Suven Pharmaceuticals Ltd Summary

Cohance Lifesciences Limited, formerly known as Suven Pharmaceuticals Limited was incorporated on November 6, 2018. The name of the Company has been changed to Cohance Lifesciences Limited w.e.f. May 7, 2025. Cohance Lifesciences Ltd is an integrated Contract Development and Manufacturing Operations (CDMO) company that serves leading global life science and fine chemical majors. The Companys comprehensive services encompass- Custom Synthesis, Process R&D, Scale-Up, and Contract Manufacturing of intermediates, APIs, and formulations. Company is engaged in the business of development and manufacturing of New Chemical Entity (NCE) based Intermediates, Active Pharmaceutical Ingredients (API), Speciality Chemicals and formulated drugs under contract research and manufacturing services for global pharmaceutical, biotechnology and chemical companies. The Company has established core competencies in cyanation and heterocyclic chemistry, covering pyrimidines, quinolones, thiazoles, and imidazoles.The Company is a CDMO that supports global life sciences industry and fine chemical majors in their NCE development endeavors. Its services include custom synthesis, process R&D, scale-up and contract manufacturing of intermediates, APIs and formulations. Suven Pharma Inc., a Delaware Company, is a WOS (wholly owned subsidiary) of SPL, is a SPV (Special Purpose Vehicle) created on 9th March 2019, for undertaking various business opportunities in Pharma Industry.During the year 2019-20, Suven Life Sciences Ltd. (SLSL) has transferred the CRAMS Business Undertaking Division to the Company through the Scheme of Arrangement (Demerger) approved by the Honble NCLT, Hyderabad Bench now integrated with Contract Development and Manufacturing Operations (CDMO) business model of the Company. In terms of the sanctioned Scheme, the Company issued and allotted 1 (One) fully paid up equity share of face value of Re 1/- (Rupee One only) each of SPL for every 1 (One) fully paid up equity share of face value of Re 1/- (Rupee One only) each held by each shareholder in the Demerged Company (SLSL) as on the Record Date (i.e., 22nd January, 2020), thereby resulted in a mirror shareholding of SLSL in the Company. The equity shares of the Company were listed to trade w.e.f. 09th March, 2020.The Board of Directors in its meeting held on August 17, 2020 considered, approved and recommended an issue of bonus shares in the proportion of (1:1) one new equity share of the Company of Re 1 each for every one existing equity share of the Company of Re 1 each.The company has a massive Rs 320-crore capex plan. Suven has invested Rs 120 crore in 2019-20. The balance is to be invested in 2020-21.During the year 2019-20, the Company invested USD35 million in Rising Pharma Holdings, Inc., USA through its wholly owned subsidiary, Suven Pharma, Inc., USA. Suven Pharma, Inc., in USA was originally formed by Suven Life Sciences Ltd while pursuing various business opportunities in CRAMS business undertaking during the demerger transition period now integrated with CDMO business of the Company, as per the decisions taken by the Board of the Company and of the Demerged Company i.e., Suven Life Sciences Ltd, in accordance with the enabling provisions of Scheme of Arrangement as sanctioned by Honble NCLT Hyderabad Bench. As a result, Suven Pharma, Inc., in USA has become wholly owned subsidiary of the company during the FY 2019-2020.As on 31 March 2020,the company has one subsidiary and one associate company under its roof.The company filed 11 ANDAs as on March 31, 2020 and three of those secured the green light from the regulator.The Board has allotted the Bonus shares at 1:1 ratio in its Board Meeting held on 29 September 2020. Accordingly the number of shares increased from 12,72,82,478 to 25,45,64,956..In 2022, the Company filed 17 ANDAs of which 9 had received approvals and 8 products were launched up to March, 2022.During year 2022, Company acquired 100% stake in Casper Pharma Private Limited, a Hyderabad based SEZ unit and Casper Pharma became a Wholly Owned Subsidiary of the company.The Company acquired 67.5% stake in Sapala Organics Private Limited, making it a subsidiary of the Company w.e.f. July 12, 2024. The Company acquired 56% equity share capital of NJ Bio, Inc., making it a subsidiary effective from December 20, 2024. The wholly owned subsidiary, Casper Pharma Private Limited was merged into the Company and the Scheme of Amalgamation became effective from January 1, 2025. Similarly, Cohance Lifesciences Limited has merged with and into Suven Pharmaceuticals Limited w.e.f May 1, 2025.