The company reported net profit of Rs 107 crore during the same period a year ago
Buyout private equity major Advent International which has pumped in more than $3.2 bn in India across segments has announced the acquisition of a majority stake in Hyderabad-based listed firm Suven Pharmaceuticals. If the open offer is fully subscribed, the deal value could touch nearly Rs 9,600 crores making it the largest domestic acquisition yet by Advent. This is the PE firm’s third buyout in the pharma space post-RA Chem Pharma, ZCL Chemicals and Avra Laboratories. Moneycontrol’s Editor (Deals) Ashwin Mohan and Nandita Khemka chat up on the Advent M&A strategy and its pharma portfolio strategy in India
Net Sales are expected to decrease by 23.2 percent Y-o-Y (up 40.8 percent Q-o-Q) to Rs. 126 crore, according to Sharekhan.
Net Sales are expected to increase by 49.4 percent Y-o-Y (down 10 percent Q-o-Q) to Rs. 172.5 crore, according to Sharekhan.
The clinical development program being executed through Suven, Inc., a Delaware Company in USA, wholly owned subsidiary of Suven Life Sciences.
The rupee is slightly down on dollar purchases by some state-owned banks. However, technical support for rupee at around 62/per dollar levels is restricting further fall.
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Suven Life Sciences has received four product patents for their new chemical entities (NCE) for treatment of disorders associated with neurodegenerative disorders like Alzheimer’s, Attention Deficit Hyperactivity Disorder (ADHD), Huntington’s disease, Parkinson and Schizophrenia.
Aurobindo Pharma can test Rs 220-222, says Mitesh Thacker, Technical Analyst.