SUVEN LIFE to acquire US based RISING PHARMA

HYDERABAD | MUMBAI | RAJKOT – In a press release submitted to the Indian Bourses on Friday, Hyderabad headquartered Suven Life Sciences Ltd announces the asset purchase agreement for acquiring Aceto Corporation’s New Jersey (US) headquartered Rising Pharmaceuticals through its joint venture partner, Shore Suven Pharma Inc.

The acquisition will be subject to Court-approved bidding process under Section 363 of US Bankruptcy Code. Shore Suven Pharma, Inc. is a joint venture between Suven Life Sciences and Shore Pharma Investments, LLC of USA.


On the occassion, Mr. Venkat Jasti, CEO & Chairman of Suven Life Sciences said, 

“We are very pleased to have completed a “stalking-horse” asset purchase agreement of Rising Pharmaceuticals through our joint venture partner, Shore Suven Pharma, Inc. This potential acquisition of Rising’s assets would transform Shore Suven Pharma into a strong U.S. generic pharmaceutical 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 U.S. customers.”

Mr. Vimal Kavuru, who will serve as CEO of Shore Suven Pharma said, 

“The opportunity to work with Rising’s suppliers and employees to ensure continuity of product supply to customers in connection with this proposed integration will be our top priority. We have an exceptional generic pharmaceutical management team ready to facilitate a smooth transition while maximizing the value of these assets. We look forward to working towards a successful closing.” 


Announcement of intention to acquire US based pharma asset had hit the stock exchanges in India, prior to the trading session opening for Friday, resulting instant spike while the share prices of the company opened and the company shares continued trading on positive counters in green zone.



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