Senores Pharma up 4% as board approves acquisition of 3.73% stake in Havix

Senores Pharma shares rose 3.7 per cent on BSE, logging an intraday high at Rs 572 per share. The stock was in demand after board approved the acquisition of  8,454 shares of Havix which aggregates to 3.73 per cent stake.

 

Around 12:56 PM, Senores Pharma share price was up 1.77 per cent at Rs 560.95 per share on BSE. In comparison, the BSE Sensex was down 0.58 per cent at 73,674.22. The market capitalisation of the company stood at Rs 2,583.38 crore. The 52-week high of the stock was at Rs 644.4 per share and the 52-week low was at Rs 440 per share. 

 

"We would like to inform that as per the approval accorded by the Management Committee of board of directors of the Senores Pharmaceuticals Limited (the company or the purchaser), in their meeting held today i.e. March 11, 2025, the company has entered into the share purchase agreement (SPA) with certain shareholders (public category) of Havix Group Inc. D/B/A Aavis Pharmaceuticals (Havix or the target company) for acquisition of 8,454 (Eight Thousand Four Hundred Fifty Four) equity shares of Havix aggregating to 3.73 per cent of the total paid up share capital of Havix and subject to the terms and conditions as mentioned in the SPA," the filing read.  

 

Post the acquisition, the shareholding of Senores Pharma in Havix will increase to 54.96 per cent. As per the filing, Senores Pharma currently holds 51.23 per cent of equity shares of Havix and the acquisition of 8,454 equity shares is being done to consolidate the direct holding of the company in Havix - a subsidiary of the company.

 

The turnover of Havix for the financial year ended March 31, 2024 was $ 14,440,414. The share purchase will be done within 10 days from the date of execution of SPA.

 

Havix was incorporated under the laws of the State of Delaware on February 17, 2015. Havix is a US based company engaged in the business of developing, manufacturing and supplying of various finished formulations.

 

Senores Pharmaceuticals is a global, research-driven pharmaceutical company engaged in developing and manufacturing a wide range of pharmaceutical products predominantly for the US, Canada, and other regulated and emerging markets across various therapeutic areas and dosage forms. The companies’ current portfolio includes 27 ANDA and 21 CMO/CDMO commercial products that are permitted for distribution in the USA.