Suven-Cohance merger done

Suven Pharmaceuticals and Cohance Lifesciences completed their merger on 1 May and will henceforth be known by the Cohance brand. This followed shareholder agreement, approval by the Department of Pharmaceuticals and final approval by India’s National Company Law Tribunal on 27 March.

The two firms said that the aim of the merger is to “create a diversified CDMO platform to expand the three key business verticals, antibody-drug conjugates, small molecules and oligonucleotides”. Some analysts regard this is a significant moment, creating a fully integrated Indian player in the CDMO market, where India’s total share is currently under 3%.

Suven and Cohance had combined revenues of $282 million in the 2024 financial year. Executive chairman Vivek Sharma has projected sales of $1 billion within five years via the combination of Hyderabad-based Suven’s established commercial execution strengths with Cohance's specialised expertise in ADCs and complex chemistry platforms.

The company has already initiated operational and organisational integration, aligning its systems, capabilities and teams. The merger strategy focuses on scaling complex modalities, deepening customer partnerships and enhancing execution across the value chain. The process should be complete by Q1 2026.

Cohance was launched by private equity giant Advent International in November 2022 to manage its API and CDMO business, which includes RA Chem Pharma, ZCL Chemicals and Avra Laboratories. Advent then acquired a controlling stake of 50.1% in Suven in September 2023.