Suven Life Sciences enters asset purchase agreement to buy Rising Pharma

Suven Life Sciences Limited today announced that it has entered into a 'stalking-horse' asset purchase agreement 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 US Bankruptcy Code.

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