Advent to house Cohance platform HQ in Hyderabad

Private equity firm Advent International plans to invest $2 billion in Hyderabad’s Suven Pharmaceuticals to house its Cohance Lifesciences platform. The investment will include setting up a 50,000 sq ft R&D lab in Genome Valley and aims to make Suven Pharma one of the top three global active pharmaceutical ingredients and contract development and manufacturing players. Advent has completed the acquisition of a 50.1% stake in Suven Pharma from its promoters and will make an open offer to shareholders for another 26% stake. This investment highlights the strong partnership between global investors and Hyderabad’s thriving life sciences sector.