Suven Pharmaceuticals on Tuesday said its Board has approved the acquisition of Hyderabad-based formulations manufacturer Casper Pharma Private Limited (CPPL) for Rs 155 crore.
Suven will purchase100% of share capital from CPPL existing investors.
Suven didn’t provide details like annual turnover of the acquired asset citing that CPPL is yet to reach commercially viable operations.
CPPL has an installed capacity of 120 crore tablets and capsules and is ready for the USFDA inspection expected in the next six months.
CPPL is engaged in manufacturing and supplying of solid oral dosage formulations including tablets, capsules and liquid oral products through contractual arrangements with customers in the US and other regulated markets.
Shares of Suven Pharma rose 1.59% to close at Rs 612.10 on BSE on Tuesday, while the benchmark Sensex declined 0.72% to end at 60,176.50 points.