Suven snaps up Casper Pharma for ₹155 crore

Hyderabad: City-based Suven Pharmaceuticals Limited, on Tuesday, said it will be acquiring Casper Pharma for a cash consideration of Rs 155 crore. Post-acquisition, Casper will become Suven’s wholly owned subsidiary.

Set up in 2016, Casper Pharma set up a United States Food & Drug Administration (USFDA) inspection-ready formulations plant in the GMR Aviation SEZ in Hyderabad. The company is yet to commence commercially viable operations and therefore the last three years' turnover data is not available.

Casper Pharma’s manufacturing facility currently has an installed capacity of 1.2 billion tablets. The company is ready for USFDA inspection which is expected to happen within the next six months.

With this acquisition, Suven will be able to engage in manufacturing and supplying solid oral dosage formulations including tablets, capsules and liquid oral products through the contractual arrangement with customers for US and other regulated markets. The acquisition will be completed within 30 days from closing of definitive agreements.