Suven Pharmaceuticals Ltd

Suven Pharmaceuticals Ltd

Suven Pharmaceuticals Limited (SPL) is a bio-pharmaceutical company incorporated on 6th November 2018 and 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 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 to the Company in accordance with the Scheme of Arrangement (Demerger) approved by the Hon'ble 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 Hon'ble 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 2020the 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 127282478 to 254564956..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.