Suven Pharmaceuticals Limited announced on Tuesday that it will buy Casper Pharma for ₹155 crore in cash. Casper will become a completely owned subsidiary of Suven following the acquisition.
Casper Pharma established a USFDA inspection-ready formulations unit in the GMR Aviation SEZ in Hyderabad in 2016. The company is yet to commence commercially viable operations and therefore the last three years' turnover data is not available.
Casper Pharma's production plant has a capacity of 1.2 billion tablets. The company is prepared for an inspection by the USFDA, which is expected within the next six months.
Suven will be able to manufacture and deliver solid oral dosage formulations such as tablets, capsules, and liquid oral solutions through contractual arrangements with customers in the US and other regulated markets as a result of this acquisition. The purchase will be completed within 30 days of the definitive agreements being signed.
The acquisition will make CPPL a wholly-owned subsidiary of SPL.
Suven Net Sales stood at ₹391.59 crore in December 2021 up 42.43% from Rs. 274.93 crore in December 2020.
Quarterly Net Profit at Rs. 160.07 crore in December 2021 up 40.87% from Rs. 113.63 crore in December 2020.
EBITDA stands at Rs. 250.71 crore in December 2021 up 75.33% from Rs. 142.99 crore in December 2020. Its EPS has increased to Rs. 6.29 in December 2021 from Rs. 4.46 in December 2020.
