The $64.4 million deal includes both primary equity infusion and secondary acquisition. As part of the deal, Suven Pharma will invest $15 million in primary equity to accelerate NJ Bio's growth initiatives. The transaction includes acquiring 9.3 lakh common equity shares from existing shareholders of NJ Bio and subscribing to 2.8 lakh newly issued common equity shares. The definitive documents grant Suven a call option to purchase the remaining shares of NJ Bio and a put option for NJ Bio's shareholders to sell their shares to Suven, both exercisable after five years. If exercised, Suven could acquire 100% of NJ Bio's equity. NJ Bio is a Contract Research, Development, and Manufacturing Organization (CRDMO) based in Princeton, New Jersey, specializing in antibody-drug conjugates (ADCs) and other advanced drug conjugates (XDCs), which are key segments in targeted therapeutics. Following the acquisition, NJ Bio will become a subsidiary of Suven Pharma, with its two subsidiaries, NJBIO India Pharmaceutical Private Limited and NJ Biotherapeutics, LLC, becoming step-down subsidiaries. Suven Pharmaceuticals is in the business of Contract Development & Manufacturing Organisation (CDMO), catering to the needs of the global pharma industry. The drug maker's consolidated net profit increased 3.34% to Rs 82.21 crore on 11.54% rise in revenue from operations to Rs 257.72 crore in Q2 FY25 over Q2 FY24. Shares of Suven Pharmaceuticals rose 0.78% to close at Rs 1,305.30 on Friday, 6 December 2024.Powered by Capital Market - Live

Suven Pharmaceuticals announced the acquisition of a controlling stake in NJ Bio Inc. (NJ Bio) with an investment of $64.4 million. Based in Princeton, NJ Bio is a premier ADC/XDC-focused CRDMO offering cutting-edge solutions across the ADC value chain. It was founded by Dr Naresh Jain, a well renowned scientist in the ADC space, holding PhD from Boston University & Post Doctoral Research Fellow at The Scripps Research Institute, California. He had previously founded The Chemical Research Solution LLC (an ADC CRO) and served in senior R&D roles at J&J for 8+ years. NJ Bio has served 150+ customers, delivered over 500 projects in 5 years, and won the prestigious World ADC Awards for four consecutive years (2021-24). The transaction is expected to close before the end of December 2024. On this acquisition Suven Executive Chairman, Vivek Sharma, said 'We are very excited to partner with Dr Jain and his team and welcome them to the Suven family. This transaction is in line with our vision of being a technology-led CDMO, offering end-to-end solutions in emerging modalities like ADCs. NJ Bio's capabilities and established customer relationships will accelerate Suven's journey as a global leader in this fast-growing ADC/XDC segment which is emerging as a very important modality and has improved the lives of well over 100,000 patients already.'Powered by Capital Market - Live

Suven Pharmaceuticals has executed definitive agreements today, i.e. 07 December 2024, for an ownership of 56% equity share capital of NJ Bio, Inc. (the Target), by a mix of primary infusion and secondary acquisition at a pre-money equity value of the target of USD 100 million. Suven proposes to invest a total of USD 64.4 million, which includes USD 15 million of primary equity infusion into the Target for its growth initiatives. NJ Bio, Inc. is a Princeton-based Antibody Drug Conjugate (ADC) focused CRDMO and one of the leading global players with end-to-end capabilities across payload-linker synthesis, bioconjugation and analytical services, providing customized ADC solutions that accelerate customers' discovery and development. Powered by Capital Market - Live

Suven Pharmaceuticals Ltd gained 4.23% today to trade at Rs 1359. The BSE Healthcare index is up 0.52% to quote at 43893.64. The index is down 0.46 % over last one month. Among the other constituents of the index, Aster DM Healthcare Ltd increased 3.81% and Hikal Ltd added 3.55% on the day. The BSE Healthcare index went up 44.02 % over last one year compared to the 17.77% surge in benchmark SENSEX. Suven Pharmaceuticals Ltd has added 2.28% over last one month compared to 0.46% fall in BSE Healthcare index and 0.31% drop in the SENSEX. On the BSE, 863 shares were traded in the counter so far compared with average daily volumes of 8996 shares in the past one month. The stock hit a record high of Rs 1359 on 02 Dec 2024. The stock hit a 52-week low of Rs 586.1 on 06 Feb 2024.Powered by Capital Market - Live

The revenue growth was driven by Pharma CDMO business and Sapala acquisition. The company reported that its progress in strategic initiatives, including a strong pipeline in Phase III, an increase in request for quotations (RFQs), and conversion of spec-chem/ag-chem business to SBU is setting the stage for future growth. Profit before tax dropped 55.18% to Rs 65.46 crore as on 31 December 2023 as against with Rs 146.08 crore posted in same period a year ago. Adjusted EBITDA grew 8.46% to Rs 111.5 crore during the quarter as against Rs 102.8 crore reported in Q2 FY24. EBITDA margin contracted to 43.3% in Q2 FY25 as compared to 44.5% in Q2 FY24. Revenue from Pharma CDMO business (incl. Sapala) stood at Rs 202.4 crore in Q2 FY25, up 46.56% as compared with Rs 138.1 crore in Q2 FY24. Revenue from formulation business jumped 45.65% YoY to Rs 55.2 crore in second quarter of FY25. On half yearly basis, the company's consolidated net profit shed 28.56% to Rs 142.98 crore on 15.59% decline in revenue from operations to Rs 488.41 crore in H1 FY25 over H1 FY24. The pharmaceutical generated free cash flow of Rs 110 crore, maintaining a cash & bank balance of Rs 656 crore and capex was at Rs 69.4 crore for the half year period. Vivek Sharma, executive chairman, said, 'There is a strong momentum favoring the CDMO sector, with India as the biggest beneficiary driven by efforts to diversify supply chains, along with supportive macroeconomic trends like the potential US Biosecure Act. Suven with its strong track record and extensive offerings, continues to be committed to offering a tech-led end-to-end CDMO platform to its customers.' Dr. V. Prasada Raju, managing director, added, 'On the front end, we have continued our concerted BD efforts to serve both the large innovator customers as well as select Biotechs, and we can see the green shoots of our efforts in our robust RFQ pipeline. From a delivery perspective, we have focused on backward integration and expanding our capabilities across the value chain, so we are well prepared to take forward the opportunities we envisage across small molecules, ADC platform, and oligonucleotides. Our outlook for the medium to long term remains healthy.' On outlook front, the firm stated, 'Overall, there is no change in outlook. H1 has been in line with our estimates, while H2 will see better growth trajectory. We expect to grow on a full-year basis at a combined platform level with growth acceleration from FY26.' Suven Pharmaceuticals is in the business of Contract Development & Manufacturing Organisation (CDMO), catering to the needs of global pharma industry.Powered by Capital Market - Live

Suven Pharmaceuticals announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 28 November 2024 .Powered by Capital Market - Live

Suven Pharmaceuticals will hold a meeting of the Board of Directors of the Company on 12 November 2024.Powered by Capital Market - Live

Suven Pharmaceuticals announced the appointment of Vivek Sharma as the new Executive Chairman, effective 20 September 2024, as Vaidheesh Annaswamy decides to transition from the Board and becomes the Vice-Chair of Suven's Advisory council.Powered by Capital Market - Live

The Board of Suven Pharmaceuticals at its meeting held on 19 September 2024 has taken on record the following: Vaidheesh Annaswamy (DIN: 01444303) has decided to step down from his role as Executive Chairperson and Director of the Company, effective from close of business hours on 19 September 2024. Approved the appointment of Vivek Sharma (DIN: 08559495) as an Additional Director and Executive Chairman of the Company, as recommended by the Nomination and Remuneration Committee, for a period of five years with effect from 20 September 2024, subject to approval of the shareholders through postal ballot process. Powered by Capital Market - Live

Net profit of Suven Pharmaceuticals declined 49.61% to Rs 60.77 crore in the quarter ended June 2024 as against Rs 120.59 crore during the previous quarter ended June 2023. Sales declined 33.62% to Rs 230.69 crore in the quarter ended June 2024 as against Rs 347.55 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var. Sales230.69347.55 -34 OPM %34.6548.04 - PBDT96.49176.48 -45 PBT83.09163.94 -49 NP60.77120.59 -50 Powered by Capital Market - Live