The key driver behind this growth was its pharma CDMO business, which recorded a remarkable 101 percent year-on-year increase, fueled by ongoing research and development efforts and business expansion initiatives.
The NJ Bio acquisition follows Sapala Organics purchase in June
In July, Suven Pharma had received a Form 483 from USFDA, with two observations regarding Casper Pharma, which the company said were procedural in nature, assuring these would be addressed in stimulated time.
Stocks like Godfrey Phillips, Deep Industries, RBM Infracon, Granules India and Suven Pharma will also be in focus on Monday.
Sapala reported a revenue of around Rs 67 crore for FY24. Shares of Suven Pharma ended 0.63 per cent lower at Rs 667.25 apiece on the BSE
The current vendor diversification drive by big pharma is driving large business opportunities for Indian CDMOs
Suven Pharmaceuticals Limited on February 29 announced a scheme of amalgamation for merger with Cohance Lifesciences Limited
The overall transaction is expected to conclude over the next 12-15 months subject to receipt of all relevant shareholder and regulatory approvals.
Suven Pharma reported a sharp decline in its net profit, revenue and profitability in Q3.
The pharma company expects that the next few quarters to continue to be soft due to the impact of global destocking in specialty chemicals and FY23 base effect
Suven Pharmaceuticals Ltd had reported a 12.2 percent year-on-year (YoY) rise in net profit at Rs 120.6 crore for the first quarter that ended June 30, 2023
The approval is for the acquisition of up to 76.1 percent stake in Suven Pharmaceuticals by Cyprus-based Berhyanda Ltd.
The highlight of Suven Pharma's Q1 earnings was the company's sharp margin improvement