Advent International, a global private equity giant, proudly announces the successful completion of its majority acquisition of Suven Pharma, a renowned Contract Development and Manufacturing Organization (CDMO) in India. This strategic move positions Advent as a key player in India’s pharmaceutical landscape.

As part of this acquisition, Advent introduces the new Board of Directors and management team for Suven Pharma. The leadership ensemble comprises seasoned industry experts, including Annaswamy Vaidheesh as Executive Chairman, Dr. V Prasada Raju as Managing Director, and Dr. Sudhir Kumar Singh as Chief Executive Officer.

Mr. Annaswamy Vaidheesh, with over 35 years of industry experience, including a stint as Managing Director of GSK India, President of OPPI (Organization of Pharmaceutical Producers of India), and senior roles at J&J Asia Pacific, is set to steer Suven Pharma. Dr. Prasada Raju, with 29 years of pharmaceutical industry experience, brings his leadership acumen from Cohance Life Sciences, Granules India Ltd., and Dr. Reddy’s Laboratories. Dr. Sudhir Kumar Singh, a distinguished industry veteran and former COO at Aragen Life Sciences, assumes the role of CEO.

Shweta Jalan, Managing Partner at Advent International, expressed enthusiasm, stating, “We are delighted to enter the value creation phase of our journey with the appointment of an experienced management team. Our new leaders are stalwarts of the industry, and we believe they are the right team to deliver on the ambitious vision we have set out for Suven.”

Annaswamy Vaidheesh, Executive Chairman, shared his perspective, saying, “These are fascinating times for us as we take on the responsibility of leading Suven Pharma to new frontiers. We aim to leverage our expertise, resources across Advent, and Suven team’s proven capabilities to deliver high-quality services to Suven’s customers worldwide. I am delighted to be leading this transformational journey.”

Pankaj Patwari, Managing Director at Advent International, outlined the vision for Suven, emphasizing the goal of building a global leader by executing effectively on the pipeline, enhancing customer relationships, attracting new marquee customers, and expanding manufacturing and R&D capabilities. He highlighted the excitement about the growth opportunities supported by a top-class management team, an exemplary Board, and Advisory Council.

Suven Pharma has also appointed an esteemed Advisory Council, featuring luminaries like Mr. Venkateswarlu Jas, Founder of Suven Pharma and Suven Lifesciences; Mr. Abhijit Mukherjee, Ex-COO of Dr. Reddy’s; James Mullen, Ex-President and CEO of Patheon and Biogen; and Mr. Stefan Stoffel, Ex-COO of Lonza.

The Board of Directors, including Vaidheesh and Dr. Prasada Raju, will also see Pankaj Patwari, Managing Director at Advent, as a member. Three independent directors will join the Board: K.G Ananthakrishnan, Ex-MD MSD India and Ex-Director General of OPPI, and Chairman of PNB; Matangi Gowrishankar, Ex-BP Global Head of Capability Development, and Ex-Director of Human Resources, Castrol India, Strategic Advisor, and Certified Coach; and Vinod Rao, Ex-Global Treasurer and Head of Investor Relations for Diageo and ex-CFO PepsiCo Asia Pacific, and Board member at Eureka Forbes.

Advent acquired a 50.1% stake in Suven at an agreed price of Rs 495/share, with an open offer for the remaining 26% of stake to be triggered within stipulated timelines. This strategic partnership positions Advent as a majority stakeholder, poised to enhance Suven’s capabilities and drive its journey to become a leading player in the global CDMO space.

  Advent International, Pharma acquisition news, Shweta Jalan, Suven Pharma