Advent Intl’s $2-bn Cohance Platform HQ to be in Hyd
Invests Rs 9,589 cr to acquire a controlling stake in Suven Pharmaceuticals and to also establish a 50,000-sft R&D lab in Genome Valley
Basing in City of Pearls
♦ Advent International MD discusses investment plans with KTR
♦ This is the largest investment of its kind in Asia
♦ Advent aims to make Cohance one of the top 3 API, CDM platforms in the world
Advent International, one of the world’s largest and most experienced private equity investors, is significantly amplifying its presence within Hyderabad’s flourishing life sciences landscape with a substantial Rs 9,589 crore investment to acquire a controlling stake in Suven Pharmaceuticals and to also establish a 50,000-sft R&D lab in Genome Valley.
The current investments underscore Advent’s dedication to bolstering its Cohance platform with a combined investment of about $2 billion (Rs 16,650 crore), which is the largest investment of its kind in Asia, aspiring to be among the top three Active Pharmaceutical Ingredient (API) and contract development & manufacturing (CDM) platforms.
Advent International MD Pankaj Patwari and Operating Partner Vaidheesh Annaswamy discussed the company’s investment and ambitious growth plans with Telangana IT & industries Minister KT Rama Rao, Industries and Commerce Department Principal Secretary Jayesh Ranjan and Telangana Life Sciences CEO Shakthi M Nagappan, here on Friday.
Earlier, Advent’s Managing Partner John Maldonado had engaged in a productive meeting with the Minister during his visit to the US last year. Its commitment to the Hyderabad pharma sector was further solidified by the creation of the Cohance platform, encompassing its API and CDM businesses - RA Chem Pharma, ZCL Chemicals and Avra Laboratories with Hyderabad as its headquarters.
These pivotal investments mark a significant advancement in the city’s trajectory as an emerging hub for pioneering life sciences innovation and exponential growth. Commenting on the strategic partnership, KTR said, “I’m delighted to witness the remarkable growth of Advent International’s portfolio in Hyderabad’s life sciences sector.”
“Their journey of multiple investments and remarkable expansion in Telangana exemplifies the vibrant ecosystem that the government and industry partners have collaboratively nurtured. I am confident that Advent will continue to thrive in Telangana, and we will extend unwavering support to our industry partners in their growth endeavours,” he added.
On the occasion, Pankaj Patwari said, “We are delighted to be able to announce today’s investment in Hyderabad’s thriving life sciences landscape. This expansion reaffirms our commitment to driving innovation, growth, and value creation in partnership with the dynamic ecosystem of the region. We are looking at making additional investments to further strengthen the position of the Cohance platform.”
The growth story of Advent in Hyderabad’s life sciences sector serves as a testament to the robust partnership between global investors and the State’s thriving ecosystem. As the region continues to attract investments, it reaffirms Hyderabad’s reputation as a dynamic and promising destination for the life sciences industry. Furthermore, the collaboration between Advent and Telangana government signifies the convergence of visionary leadership and a conducive business environment.