Suven Pharmaceuticals Ltd. has received the green light from the National Company Law Tribunal (NCLT), Mumbai Bench, for its proposed merger with Cohance Lifesciences Limited.

The approval, granted on March 27, 2025, marks a major milestone in the companies' journey to become a leading end-to-end Contract Development and Manufacturing Organisation (CDMO) in India.

The merger, sanctioned under Sections 230 to 232 of the Companies Act, 2013, followed a comprehensive legal and regulatory review process. Both Suven Pharmaceuticals (the transferee company) and Cohance Lifesciences (the transferor company) secured overwhelming shareholder approval.

Over 99.9994 percent of Suven’s equity shareholders and 99.967 percent of Cohance’s shareholders voted in favor of the Scheme of Amalgamation during meetings held on November 28, 2024.

Under the terms of the merger, shareholders of Cohance Lifesciences will receive 11 fully paid-up equity shares of INR 1 each in Suven Pharmaceuticals for every 295 fully paid-up equity shares of INR 10 each they hold in Cohance. The merger is set to take effect from the first business day of the month following the fulfillment of all required conditions, including final clearance from the Department of Pharmaceuticals.

The amalgamation is poised to deliver multiple strategic benefits. The combined entity will benefit from enhanced scale, broader capabilities, and deeper relationships with innovator customers. It will gain access to advanced chemistry capabilities such as antibody drug conjugates and additional manufacturing facilities compliant with the United States Food and Drug Administration (US FDA) standards. These synergies are expected to boost growth and improve profitability.

Financially, the merger brings together two robust companies. As per the latest filings, Suven Pharmaceuticals has a net worth of INR 2,055.90 crore, while Cohance Lifesciences stands at INR 1,717.41 crore. Suven has assured that it will issue shares, assume liabilities, and comply with all statutory and sectoral regulatory requirements, including those of the Income Tax Department, GST Authorities, SEBI, BSE, NSE, and the Reserve Bank of India.

The merger process was marked by a high level of regulatory compliance. Notices were duly served to all stakeholders and regulators, and no objections were raised by the public or regulatory bodies. The NCLT, after reviewing all documents, affidavits, and compliance reports, declared the scheme to be fair, reasonable, and in the best interests of all stakeholders.

The merged entity will continue to honor all existing obligations, including ongoing litigations and tax liabilities. Notably, Suven Pharmaceuticals clarified that a pending Goods and Services Tax (GST) liability of INR 9.16 crore for FY 2019-20 and 2020-21 is under appeal and remains unaffected by the merger.

Employees of Cohance Lifesciences will transition to Suven Pharmaceuticals without any break in service or loss of benefits, ensuring workforce stability post-merger.

With this strategic consolidation, Suven Pharmaceuticals is set to emerge as a stronger, more competitive player in the global pharmaceutical CDMO landscape, with a wider footprint, enhanced capabilities, and the financial muscle to drive future growth.