The National Company Law Tribunal (NCLT) and Department of Pharmaceuticals (DoP) have granted final approval for the merger between Suven Pharmaceuticals and Cohance Lifesciences, creating what executives project will be a billion-dollar contract development and manufacturing organization (CDMO) within five years.
The merger, which becomes effective May 1, 2025, will operate under the name Cohance Lifesciences Limited, subject to regulatory approvals. This consolidation represents a significant strategic move in India's pharmaceutical manufacturing landscape, combining complementary technological capabilities to serve global innovator pharmaceutical companies.
Strategic Vision and Capabilities
The amalgamation creates a diversified CDMO platform with technology-focused operations across three high-growth verticals: antibody drug conjugates (ADCs), oligonucleotides, and small molecules. This integration combines Suven's established commercial execution strengths with Cohance's specialized expertise in ADCs and complex chemistry platforms.
"This merger enhances our global capabilities, particularly in the growing and highly specialized areas of ADCs. With Cohance's unique technological platform in ADC, we are well-positioned to become a $1 billion revenue company in next five years with higher CDMO contribution," said Vivek Sharma, Executive Chairman of Suven Pharmaceuticals.
The combined entity aims to function as an integrated, end-to-end partner to global pharmaceutical innovators, with additional capabilities in Specialty CDMO and API+ business segments.
Regulatory Approval Process
The merger received shareholder approval and NCLT sanction earlier, with the DoP approval representing the final regulatory clearance required for implementation. According to the terms of the scheme, the merger becomes effective from the opening business hours of May 1, 2025, following the satisfaction of all prescribed conditions.
V Prasada Raju, Managing Director of Suven Pharmaceuticals, described the approval as a "significant milestone" in building a differentiated and innovation-led CDMO platform from India. "The combined capabilities of Suven and Cohance position us strongly in high-growth areas such as ADCs, Oligonucleotides, and complex Small Molecules," he added.
Integration and Future Outlook
With regulatory approvals secured, the company has initiated operational and organizational integration, aligning systems, capabilities, and teams. The merger strategy focuses on scaling complex modalities, deepening customer partnerships, and enhancing execution across the pharmaceutical value chain.
"This integration positions us to scale complex modalities such as ADCs and Oligonucleotides, deepen customer partnerships, and enhance execution across the value chain—enabling us to deliver on our US$1 billion revenue ambition through a mix of organic growth and strategic acquisitions," Sharma explained.
Industry analysts note that the merger comes at a time when demand for specialized CDMO services, particularly for complex biologics like ADCs, is experiencing significant growth globally. The combined entity's enhanced technological capabilities may provide competitive advantages in securing partnerships with multinational pharmaceutical companies developing next-generation therapeutics.
Market Positioning
The transaction positions the merged company as a significant player in India's growing pharmaceutical manufacturing sector, with specialized capabilities that align with current trends toward biologics and complex molecules in drug development pipelines.
The company's focus on high-value, specialized manufacturing services represents a strategic pivot from traditional generic manufacturing toward higher-margin CDMO services for innovative therapeutics, reflecting broader industry shifts toward precision medicine and targeted therapies.
