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Suven Life Sciences enters asset purchase agreement to buy Rising Pharma

This potential acquisition of Rising's assets would transform Shore Suven Pharma into a strong US generic pharmaceutical company

BS Reporter 

Suven

Limited today announced that it has entered into a 'stalking-horse' to buy the assets of Aceto Corporation's Rising Pharmaceuticals and its subsidiaries through its joint venture partner Shore Suven Pharma, Inc., subject to a court-approved bidding process under Section 363 of Bankruptcy Code.

This potential acquisition of Rising's assets would transform into a strong generic pharmaceutical company, according to the company. "Leveraging Rising's extensive product portfolio to become vertically integrated with our already world-class and finished dose manufacturing capabilities will enable to better serve US customers," said chairman and CEO Venkat Jasti.

is a joint venture between Suven Life and Shore Pharma Investments, LLC of USA.

"The opportunity to work with Rising's suppliers and employees to ensure continuity of product supply to customers in connection with this proposed integration will be our top priority. We look forward to working towards a successful closing,"said Vimal Kavuru, who will serve as CEO of

First Published: Fri, March 08 2019. 16:21 IST
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